Panagora Asset Management Inc. Increases Stake in Alamos Gold Inc. $AGI

Key Points

• Panagora Asset Management Inc. increased its stake in Alamos Gold Inc. by 1,522.6%, acquiring an additional 242,738 shares during the first quarter, bringing its total holdings to approximately $6.9 million.
• A number of institutional investors, including T. Rowe Price and Canada Pension Plan Investment Board, also adjusted their positions in Alamos Gold, with overall institutional ownership currently at 64.33%.
• Alamos Gold announced a quarterly dividend of $0.025 per share, with an annualized yield of 0.3% and a payout ratio of 12.05%.

Panagora Asset Management Inc. increased its position in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 1,522.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 258,680 shares of the basic materials company's stock after purchasing an additional 242,738 shares during the period. Panagora Asset Management Inc. owned approximately 0.06% of Alamos Gold worth $6,917,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC bought a new position in Alamos Gold during the 1st quarter valued at $320,000. Brown Advisory Inc. lifted its stake in Alamos Gold by 9.3% during the 1st quarter. Brown Advisory Inc. now owns 11,782 shares of the basic materials company's stock valued at $315,000 after acquiring an additional 1,000 shares in the last quarter. LBP AM SA bought a new position in Alamos Gold during the 1st quarter valued at $1,155,000. Goehring & Rozencwajg Associates LLC lifted its stake in Alamos Gold by 2.3% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,223,257 shares of the basic materials company's stock valued at $31,915,000 after acquiring an additional 27,032 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in Alamos Gold by 5.3% during the 4th quarter. Deutsche Bank AG now owns 171,943 shares of the basic materials company's stock valued at $3,171,000 after acquiring an additional 8,681 shares in the last quarter. 64.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AGI. National Bankshares restated an "outperform" rating on shares of Alamos Gold in a research note on Tuesday, August 5th. Stifel Canada upgraded Alamos Gold to a "strong-buy" rating in a research note on Tuesday, July 8th. CIBC restated an "outperform" rating on shares of Alamos Gold in a research note on Tuesday, July 15th. Stifel Nicolaus started coverage on Alamos Gold in a research report on Wednesday, July 9th. They set a "buy" rating for the company. Finally, Wall Street Zen lowered Alamos Gold from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. Two 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 data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $30.38.

Alamos Gold Stock Performance

Shares of Alamos Gold stock traded up $0.66 during trading hours on Friday, hitting $32.21. 2,933,621 shares of the company's stock traded hands, compared to its average volume of 3,107,608. Alamos Gold Inc. has a 12-month low of $17.42 and a 12-month high of $32.50. The stock has a market capitalization of $13.54 billion, a price-to-earnings ratio of 38.81, a PEG ratio of 0.69 and a beta of 0.55. The company has a fifty day simple moving average of $27.05 and a 200-day simple moving average of $26.40. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.49 and a quick ratio of 1.00.

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, beating 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 firm had revenue of $438.20 million during the quarter, compared to analyst estimates of $400.61 million. During the same period last year, the firm posted $0.24 EPS. The business's revenue was up 31.7% compared to the same quarter last year. Equities research analysts anticipate that Alamos Gold Inc. will post 1.29 EPS for the current fiscal year.

Alamos Gold Dividend Announcement

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

Alamos Gold 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.