HighTower Advisors LLC Acquires 101,235 Shares of Alamos Gold Inc. $AGI

Key Points

• HighTower Advisors LLC significantly increased its investment in Alamos Gold Inc. by acquiring 101,235 shares, bringing its total holdings to 129,076 shares valued at approximately $3.45 million.
• Analysts have mixed opinions on Alamos Gold, with reports showing two analysts rating it as a Strong Buy and others reducing the rating to a Hold, yet the stock maintains a consensus rating of "Buy" and an average target price of $30.38.
• The company recently reported a 31.7% year-over-year increase in revenue, with earnings per share (EPS) of $0.34 for the latest quarter, slightly exceeding analysts' expectations.

HighTower Advisors LLC grew its position in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 363.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 129,076 shares of the basic materials company's stock after buying an additional 101,235 shares during the quarter. HighTower Advisors LLC's holdings in Alamos Gold were worth $3,451,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in AGI. Sunbelt Securities Inc. bought a new stake in Alamos Gold during the first quarter worth about $41,000. SBI Securities Co. Ltd. grew its stake in Alamos Gold by 67.0% during the first quarter. SBI Securities Co. Ltd. now owns 1,645 shares of the basic materials company's stock worth $44,000 after buying an additional 660 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in Alamos Gold during the first quarter worth about $68,000. Coppell Advisory Solutions LLC grew its stake in 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 worth $181,000 after buying an additional 1,260 shares during the last quarter. Finally, NBT Bank N A NY bought a new stake in Alamos Gold during the first quarter worth about $190,000. 64.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Wall Street Zen cut shares of Alamos Gold from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. CIBC reaffirmed an "outperform" rating on shares of Alamos Gold in a research note on Tuesday, July 15th. National Bankshares reiterated an "outperform" rating on shares of Alamos Gold in a research report on Tuesday, August 5th. Stifel Canada upgraded shares of Alamos Gold to a "strong-buy" rating in a research report on Tuesday, July 8th. Finally, Stifel Nicolaus assumed coverage on shares of Alamos Gold in a research report on Wednesday, July 9th. They set a "buy" rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $30.38.

Alamos Gold Price Performance

Shares of AGI stock opened at $27.7610 on Friday. Alamos Gold Inc. has a 1 year low of $17.42 and a 1 year high of $31.00. The firm's 50 day moving average is $26.19 and its 200-day moving average is $25.80. The firm has a market capitalization of $11.67 billion, a price-to-earnings ratio of 33.45, a PEG ratio of 0.58 and a beta of 0.51. The company has a current ratio of 1.49, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last announced its earnings results on Wednesday, July 30th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. Alamos Gold had a net margin of 22.99% and a return on equity of 10.67%. The company had revenue of $438.20 million for the quarter, compared to analyst estimates of $400.61 million. During the same period in the prior year, the business earned $0.24 earnings per share. Alamos Gold's quarterly revenue was up 31.7% on a year-over-year basis. Sell-side analysts forecast that Alamos Gold Inc. will post 1.29 EPS for the current fiscal year.

Alamos Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 12th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.4%. The ex-dividend date was Thursday, June 12th. Alamos Gold's dividend payout ratio is currently 12.05%.

Alamos Gold Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.