D.A. Davidson & CO. Purchases New Position in Alamos Gold Inc. (NYSE:AGI)

D.A. Davidson & CO. acquired a new position in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 25,078 shares of the basic materials company's stock, valued at approximately $671,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Red Cedar Investment Management LLC bought a new stake in Alamos Gold in the 1st quarter worth about $2,847,000. Sunbelt Securities Inc. bought a new stake in Alamos Gold in the 1st quarter worth about $41,000. Allspring Global Investments Holdings LLC grew its position in Alamos Gold by 6.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,085,880 shares of the basic materials company's stock worth $29,018,000 after purchasing an additional 68,500 shares in the last quarter. Harbour Capital Advisors LLC grew its position in Alamos Gold by 6.1% in the 1st quarter. Harbour Capital Advisors LLC now owns 49,325 shares of the basic materials company's stock worth $1,326,000 after purchasing an additional 2,835 shares in the last quarter. Finally, Continuum Advisory LLC grew its position in Alamos Gold by 808.9% in the 1st quarter. Continuum Advisory LLC now owns 8,235 shares of the basic materials company's stock worth $220,000 after purchasing an additional 7,329 shares in the last quarter. 64.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AGI. National Bank Financial raised shares of Alamos Gold to a "strong-buy" rating in a research report on Friday, March 21st. Wall Street Zen downgraded shares of Alamos Gold from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Royal Bank Of Canada boosted their target price on shares of Alamos Gold from $27.00 to $30.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. Stifel Canada upgraded shares of Alamos Gold to a "strong-buy" rating in a research note on Tuesday, July 8th. Finally, Bank of America dropped their target price on shares of Alamos Gold from $31.00 to $30.50 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $30.38.

Alamos Gold Stock Performance

AGI traded up $0.49 during midday trading on Friday, reaching $26.60. The company had a trading volume of 3,268,598 shares, compared to its average volume of 2,930,539. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.94 and a current ratio of 1.49. The stock has a market cap of $11.18 billion, a PE ratio of 42.90, a P/E/G ratio of 0.56 and a beta of 0.54. Alamos Gold Inc. has a 12-month low of $15.74 and a 12-month high of $31.00. The business has a 50-day moving average price of $26.34 and a two-hundred day moving average price of $24.57.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last released its earnings results on Wednesday, April 30th. The basic materials company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.05). The company had revenue of $333.00 million during the quarter, compared to analysts' expectations of $324.98 million. Alamos Gold had a net margin of 18.36% and a return on equity of 9.83%. The firm's revenue was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 earnings per share. On average, sell-side analysts expect that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 12th were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date was Thursday, June 12th. Alamos Gold's payout ratio is currently 16.13%.

Alamos Gold Profile

Alamos Gold Inc engages in the acquisition, exploration, development, and extraction of precious metals in Canada and Mexico. The company primarily explores for gold deposits. It holds 100% interest in the Young-Davidson mine and Island Gold mine located in the Ontario, Canada; Mulatos mine located in the Sonora, Mexico; and Lynn Lake project situated in the Manitoba, Canada.