Magnetar Financial LLC Purchases 126,446 Shares of Alamos Gold Inc. $AGI

Key Points

• Magnetar Financial LLC significantly increased its investment in Alamos Gold Inc. by 373.2%, acquiring 126,446 shares during the 1st quarter, bringing its total holdings to approximately $4.29 million.
• Alamos Gold reported earnings of $0.34 per share for the latest quarter, exceeding estimates, and experienced a 31.7% year-over-year revenue growth, totaling $438.2 million.
• The company declared a quarterly dividend of $0.025 per share, resulting in an annualized yield of 0.3%, with the ex-dividend date on September 11th.

Magnetar Financial LLC raised its holdings in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 373.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 160,332 shares of the basic materials company's stock after acquiring an additional 126,446 shares during the period. Magnetar Financial LLC's holdings in Alamos Gold were worth $4,287,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Sunbelt Securities Inc. acquired a new stake in Alamos Gold during the 1st quarter worth $41,000. SBI Securities Co. Ltd. grew its holdings in shares of Alamos Gold by 67.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,645 shares of the basic materials company's stock valued at $44,000 after acquiring an additional 660 shares in the last quarter. SVB Wealth LLC bought a new position in shares of Alamos Gold in the 1st quarter valued at about $67,000. Banque Cantonale Vaudoise bought a new position in shares of Alamos Gold in the 1st quarter valued at about $68,000. Finally, NBT Bank N A NY bought a new position in Alamos Gold during the first quarter worth about $190,000. Institutional investors and hedge funds own 64.33% of the company's stock.

Alamos Gold Stock Up 0.3%

NYSE:AGI traded up $0.11 on Wednesday, hitting $32.10. The stock had a trading volume of 3,191,469 shares, compared to its average volume of 3,453,609. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.49. The stock has a market cap of $13.50 billion, a P/E ratio of 38.67, a price-to-earnings-growth ratio of 0.67 and a beta of 0.55. Alamos Gold Inc. has a 1 year low of $17.42 and a 1 year high of $32.49. The firm's fifty day simple moving average is $26.69 and its two-hundred day simple moving average is $26.23.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last released its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. The company had revenue of $438.20 million during 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%. Alamos Gold's revenue for the quarter was up 31.7% on a year-over-year basis. During the same period last year, the firm earned $0.24 EPS. Analysts predict that Alamos Gold Inc. will post 1.29 earnings per share for the current year.

Alamos Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, September 11th. Alamos Gold's dividend payout ratio (DPR) is presently 12.05%.

Wall Street Analysts Forecast Growth

AGI has been the subject of a number of research analyst reports. Stifel Canada upgraded Alamos Gold to a "strong-buy" rating in a report on Tuesday, July 8th. Stifel Nicolaus started coverage on shares of Alamos Gold in a research note on Wednesday, July 9th. They set a "buy" rating on the stock. National Bankshares reissued an "outperform" rating on shares of Alamos Gold in a research note on Tuesday, August 5th. CIBC reaffirmed an "outperform" rating on shares of Alamos Gold in a research report on Tuesday, July 15th. Finally, Wall Street Zen lowered shares of Alamos Gold from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target 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.