Knightsbridge Asset Management LLC Makes New $218,000 Investment in Alamos Gold Inc. $AGI

Key Points

• Knightsbridge Asset Management LLC has acquired a new position in Alamos Gold Inc., purchasing 8,169 shares valued at approximately $218,000 during the first quarter.
• Alamos Gold reported earnings of $0.34 per share, surpassing analyst expectations, with revenue up 31.7% year-over-year, amounting to $438.20 million.
• The company announced a quarterly dividend of $0.025 per share, reflecting a 0.3% yield and a payout ratio of 12.05%.

Knightsbridge Asset Management LLC bought a new stake in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,169 shares of the basic materials company's stock, valued at approximately $218,000.

A number of other hedge funds have also recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. bought a new position in Alamos Gold during the 1st quarter valued at approximately $37,738,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Alamos Gold by 19.5% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,866,755 shares of the basic materials company's stock valued at $156,780,000 after purchasing an additional 957,359 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new stake in Alamos Gold during the 1st quarter valued at about $24,011,000. Canada Pension Plan Investment Board lifted its stake in shares of Alamos Gold by 50.9% in the first quarter. Canada Pension Plan Investment Board now owns 1,972,249 shares of the basic materials company's stock worth $52,705,000 after buying an additional 665,485 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in shares of Alamos Gold by 106.1% during the fourth quarter. Two Sigma Investments LP now owns 1,288,696 shares of the basic materials company's stock valued at $23,764,000 after buying an additional 663,381 shares during the last quarter. 64.33% of the stock is owned by institutional investors.

Alamos Gold Stock Performance

AGI traded down $0.11 during midday trading on Friday, reaching $32.80. The company had a trading volume of 1,116,857 shares, compared to its average volume of 3,439,491. Alamos Gold Inc. has a 1 year low of $17.42 and a 1 year high of $33.27. The company has a market cap of $13.79 billion, a P/E ratio of 39.51, a P/E/G ratio of 0.73 and a beta of 0.55. The business has a 50-day moving average of $27.53 and a two-hundred day moving average of $26.68. The company has a quick ratio of 1.00, a current ratio of 1.49 and a debt-to-equity ratio of 0.07.

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 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.01. The business had revenue of $438.20 million for the quarter, compared to the consensus estimate of $400.61 million. Alamos Gold had a net margin of 22.99% and a return on equity of 10.67%. The company's revenue for the quarter was up 31.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $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 firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th will be paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Thursday, September 11th. Alamos Gold's dividend payout ratio is presently 12.05%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AGI shares. Stifel Canada raised shares of Alamos Gold to a "strong-buy" rating in a research report on Tuesday, July 8th. Stifel Nicolaus initiated coverage on Alamos Gold in a research note on Wednesday, July 9th. They issued a "buy" rating for the company. Wall Street Zen downgraded Alamos Gold from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. CIBC restated an "outperform" rating on shares of Alamos Gold in a research report on Tuesday, July 15th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Alamos Gold in a report on Tuesday, August 5th. 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 company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $30.38.

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.