Ninety One UK Ltd Raises Holdings in Alamos Gold Inc. $AGI

Key Points

• Ninety One UK Ltd increased its holdings in Alamos Gold Inc. by 20.2% during the second quarter, acquiring a total of 2,171,064 shares valued at approximately $57.6 million.
• The company reported a $0.34 EPS for the most recent quarter, surpassing estimates, and its revenue increased by 31.7% compared to the previous year.
• Alamos Gold's stock has received a consensus rating of "Buy" from analysts, with a current average target price of $30.38.

Ninety One UK Ltd raised its position in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 20.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,171,064 shares of the basic materials company's stock after acquiring an additional 364,249 shares during the period. Ninety One UK Ltd owned approximately 0.52% of Alamos Gold worth $57,630,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Banque Transatlantique SA acquired a new position in shares of Alamos Gold in the 1st quarter valued at about $31,000. Sunbelt Securities Inc. purchased a new position in Alamos Gold in the first quarter valued at approximately $41,000. SBI Securities Co. Ltd. raised its holdings in Alamos Gold by 67.0% in the first quarter. SBI Securities Co. Ltd. now owns 1,645 shares of the basic materials company's stock valued at $44,000 after buying an additional 660 shares during the period. SVB Wealth LLC acquired a new position in Alamos Gold during the first quarter valued at approximately $67,000. Finally, Banque Cantonale Vaudoise purchased a new stake in Alamos Gold during the first quarter worth approximately $68,000. 64.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AGI. National Bankshares reissued an "outperform" rating on shares of Alamos Gold in a research note on Tuesday, August 5th. Stifel Canada raised Alamos Gold to a "strong-buy" rating in a research report on Tuesday, July 8th. Stifel Nicolaus started coverage on Alamos Gold in a research note on Wednesday, July 9th. They set a "buy" rating on the stock. CIBC reiterated an "outperform" rating on shares of Alamos Gold in a research note on Tuesday, July 15th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Alamos Gold in a research report on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Alamos Gold currently has an average rating of "Buy" and an average target price of $30.38.

Alamos Gold Trading Up 0.6%

NYSE:AGI opened at $34.86 on Wednesday. The stock has a market cap of $14.66 billion, a price-to-earnings ratio of 42.00, a price-to-earnings-growth ratio of 0.71 and a beta of 0.55. Alamos Gold Inc. has a one year low of $17.42 and a one year high of $35.13. 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 business's 50-day simple moving average is $29.31 and its 200 day simple moving average is $27.54.

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

Alamos Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 11th were issued a $0.025 dividend. The ex-dividend date of this dividend was Thursday, September 11th. This represents a $0.10 annualized dividend and a yield of 0.3%. 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.