Envestnet Asset Management Inc. Purchases 20,186 Shares of Alamos Gold Inc. (NYSE:AGI)

Key Points

• Envestnet Asset Management Inc. increased its holdings in Alamos Gold by 23.2% during the first quarter, acquiring an additional 20,186 shares and bringing its total ownership to 107,022 shares, valued at approximately $2.86 million.
• Alamos Gold reported earnings of $0.14 per share for the last quarter, missing analysts' expectations of $0.19, despite a 20% year-over-year revenue increase to $333 million.
• The company recently announced a quarterly dividend of $0.025 per share, which represents an annualized yield of 0.39% and reflects a payout ratio of 16.13%.

Envestnet Asset Management Inc. increased its position in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 23.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 107,022 shares of the basic materials company's stock after purchasing an additional 20,186 shares during the period. Envestnet Asset Management Inc.'s holdings in Alamos Gold were worth $2,862,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. bought a new position in shares of Alamos Gold during the first quarter valued at $41,000. Cutler Capital Management LLC bought a new position in shares of Alamos Gold during the fourth quarter valued at $108,000. Coppell Advisory Solutions LLC lifted its holdings in shares of Alamos Gold by 14.4% during the fourth quarter. Coppell Advisory Solutions LLC now owns 10,011 shares of the basic materials company's stock valued at $181,000 after purchasing an additional 1,260 shares in the last quarter. NBT Bank N A NY bought a new position in shares of Alamos Gold during the first quarter valued at $190,000. Finally, Continuum Advisory LLC lifted its holdings in shares of Alamos Gold by 808.9% during the first quarter. Continuum Advisory LLC now owns 8,235 shares of the basic materials company's stock valued at $220,000 after purchasing an additional 7,329 shares in the last quarter. 64.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AGI. Bank of America lowered their price target on Alamos Gold from $31.00 to $30.50 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Scotiabank reissued an "outperform" rating on shares of Alamos Gold in a report on Monday, April 14th. Wall Street Zen downgraded Alamos Gold from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Stifel Nicolaus initiated coverage on Alamos Gold in a report on Wednesday, July 9th. They issued a "buy" rating on the stock. Finally, Stifel Canada raised Alamos Gold to a "strong-buy" rating in a report on Tuesday, July 8th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $30.38.

Alamos Gold Stock Performance

AGI traded down $1.24 during midday trading on Thursday, reaching $24.13. The company had a trading volume of 2,902,760 shares, compared to its average volume of 3,454,309. The company has a quick ratio of 0.94, a current ratio of 1.49 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average of $26.39 and a two-hundred day moving average of $25.16. The company has a market cap of $10.14 billion, a P/E ratio of 38.92, a P/E/G ratio of 0.56 and a beta of 0.54. Alamos Gold Inc. has a 1 year low of $15.74 and a 1 year high of $31.00.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last issued its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. The business had revenue of $438.20 million during the quarter, compared to analysts' expectations of $400.61 million. Alamos Gold had a return on equity of 9.83% and a net margin of 18.36%. The business's quarterly revenue was up 31.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.24 earnings per share. As a group, equities research analysts predict that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.41%. The ex-dividend date was Thursday, June 12th. Alamos Gold's dividend payout ratio is presently 16.13%.

About Alamos Gold

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.