Massachusetts Financial Services Co. MA Purchases Shares of 1,876,882 Alamos Gold Inc. $AGI

Key Points

• Massachusetts Financial Services bought 1,876,882 shares of Alamos Gold (~$72.41M), representing about 0.45% of the company at the end of the quarter.
• Analysts hold a consensus Buy on AGI with an average price target of $50.67, and Scotiabank recently raised its target to $60 while several brokerages maintain outperform/buy ratings.
• Alamos reported Q4 EPS of $0.54 (beating estimates) with revenue up 53.1% year-over-year, and increased its quarterly dividend to $0.04 (annualized $0.16, ≈0.3% yield).

Massachusetts Financial Services Co. MA purchased a new stake in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,876,882 shares of the basic materials company's stock, valued at approximately $72,410,000. Massachusetts Financial Services Co. MA owned about 0.45% of Alamos Gold at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. 1620 Investment Advisors Inc. acquired a new position in shares of Alamos Gold in the 3rd quarter valued at about $35,000. EverSource Wealth Advisors LLC lifted its stake in shares of Alamos Gold by 69.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,416 shares of the basic materials company's stock valued at $49,000 after purchasing an additional 581 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Alamos Gold by 528.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,468 shares of the basic materials company's stock valued at $156,000 after purchasing an additional 3,757 shares during the period. CIBC Private Wealth Group LLC lifted its stake in shares of Alamos Gold by 93.2% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,781 shares of the basic materials company's stock valued at $167,000 after purchasing an additional 2,307 shares during the period. Finally, Empowered Funds LLC acquired a new position in shares of Alamos Gold in the 1st quarter valued at about $200,000. Institutional investors own 64.33% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AGI. Scotiabank boosted their price objective on Alamos Gold from $55.00 to $60.00 and gave the company a "sector outperform" rating in a research note on Friday, February 6th. Weiss Ratings downgraded Alamos Gold from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Thursday, April 2nd. Wall Street Zen downgraded Alamos Gold from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 1st. Finally, Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Alamos Gold in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Alamos Gold currently has a consensus rating of "Buy" and an average price target of $50.67.

Alamos Gold Stock Performance

Shares of Alamos Gold stock opened at $48.23 on Tuesday. Alamos Gold Inc. has a one year low of $23.75 and a one year high of $55.41. The firm has a market capitalization of $20.25 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 0.67 and a beta of 0.63. The business has a 50-day simple moving average of $45.84 and a 200 day simple moving average of $39.75. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.00 and a quick ratio of 1.60.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last issued its earnings results on Wednesday, February 18th. The basic materials company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.49 by $0.05. Alamos Gold had a return on equity of 14.83% and a net margin of 48.97%.The business had revenue of $575.30 million during the quarter, compared to analyst estimates of $596.18 million. During the same period in the previous year, the company posted $0.25 EPS. The firm's revenue was up 53.1% compared to the same quarter last year. On average, research analysts anticipate that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Thursday, March 12th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Thursday, March 12th. This is a positive change from Alamos Gold's previous quarterly dividend of $0.03. Alamos Gold's dividend payout ratio is presently 7.62%.

Alamos Gold Profile

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.

Want to see what other hedge funds are holding AGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.