TD Asset Management Inc Grows Holdings in Alamos Gold Inc. $AGI

Key Points

• TD Asset Management Inc increased its holdings in Alamos Gold Inc. by 1.7%, owning over 2.5 million shares valued at approximately $69 million.
• Alamos Gold recently reported earnings of $0.34 per share for the quarter, exceeding expectations, with revenue hitting $438.2 million, a 31.7% increase year-over-year.
• The company also announced a quarterly dividend of $0.025, representing a 0.3% dividend yield, with a payout ratio of 12.05%.

TD Asset Management Inc lifted its stake in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 1.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,599,832 shares of the basic materials company's stock after acquiring an additional 43,497 shares during the quarter. TD Asset Management Inc owned 0.62% of Alamos Gold worth $69,011,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Alamos Gold in the first quarter valued at $37,738,000. Goldman Sachs Group Inc. lifted its stake in Alamos Gold by 105.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,394,604 shares of the basic materials company's stock worth $64,032,000 after acquiring an additional 1,227,695 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings 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 acquiring an additional 957,359 shares during the period. Caisse DE Depot ET Placement DU Quebec acquired a new position in Alamos Gold in the 1st quarter valued at about $24,011,000. Finally, Canada Pension Plan Investment Board grew its position in Alamos Gold by 50.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,972,249 shares of the basic materials company's stock valued at $52,705,000 after acquiring an additional 665,485 shares in the last quarter. Hedge funds and other institutional investors own 64.33% of the company's stock.

Alamos Gold Stock Up 5.8%

Shares of NYSE AGI opened at $36.05 on Thursday. The business has a 50-day moving average of $31.21 and a two-hundred day moving average of $28.15. The company has a market capitalization of $15.16 billion, a price-to-earnings ratio of 43.43, a price-to-earnings-growth ratio of 0.69 and a beta of 0.50. Alamos Gold Inc. has a 1 year low of $17.42 and a 1 year high of $36.13. 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 issued its earnings results on Wednesday, July 30th. The basic materials company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01. The business had revenue of $438.20 million for the quarter, compared to analyst estimates of $400.61 million. Alamos Gold had a return on equity of 10.67% and a net margin of 22.99%.The business's quarterly revenue was up 31.7% on a year-over-year basis. During the same quarter last year, the company earned $0.24 EPS. On average, analysts forecast that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th were issued a $0.025 dividend. The ex-dividend date was Thursday, September 11th. This represents a $0.10 annualized dividend and a dividend yield of 0.3%. Alamos Gold's dividend payout ratio is presently 12.05%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AGI. CIBC reiterated an "outperform" rating on shares of Alamos Gold in a research note on Tuesday, July 15th. Stifel Canada raised shares of Alamos Gold to a "strong-buy" rating in a research note on Tuesday, July 8th. Weiss Ratings reissued a "buy (b)" rating on shares of Alamos Gold in a research report on Wednesday, October 8th. Stifel Nicolaus assumed coverage on shares of Alamos Gold in a research note on Wednesday, July 9th. They issued a "buy" rating for the company. Finally, Zacks Research raised Alamos Gold from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 3rd. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Alamos Gold currently has an average rating of "Buy" and an average price target of $31.17.

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.

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