The Manufacturers Life Insurance Company Acquires 1,216,977 Shares of Alamos Gold Inc. $AGI

Key Points

• The Manufacturers Life Insurance Company increased its Alamos Gold stake by 41.6%, purchasing 1,216,977 additional shares to hold 4.14 million shares, or about 0.99% of the company. Institutional investors collectively own 64.33% of AGI.
• Analyst sentiment remains broadly positive, with nine Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $47.50. However, RBC and Bank of America recently reduced their targets to $42 and $39, respectively.
• Alamos Gold reported quarterly EPS of $0.54, matching estimates, while revenue rose 79.2% year over year to $596.7 million. The company also maintains a quarterly dividend of $0.04 per share, equivalent to a 0.6% annual yield.

The Manufacturers Life Insurance Company boosted its stake in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 41.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,139,080 shares of the basic materials company's stock after buying an additional 1,216,977 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.99% of Alamos Gold worth $183,963,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Quantinno Capital Management LP boosted its holdings in shares of Alamos Gold by 220.9% in the first quarter. Quantinno Capital Management LP now owns 51,422 shares of the basic materials company's stock valued at $2,284,000 after buying an additional 35,396 shares during the period. OMERS ADMINISTRATION Corp acquired a new stake in shares of Alamos Gold during the first quarter worth $1,366,000. Themes Management Co LLC raised its holdings in shares of Alamos Gold by 14.3% during the first quarter. Themes Management Co LLC now owns 35,993 shares of the basic materials company's stock worth $1,601,000 after acquiring an additional 4,505 shares during the period. Bradley Foster & Sargent Inc. CT lifted its position in Alamos Gold by 52.2% in the 1st quarter. Bradley Foster & Sargent Inc. CT now owns 1,026,135 shares of the basic materials company's stock valued at $45,591,000 after acquiring an additional 351,713 shares in the last quarter. Finally, Waverly Advisors LLC bought a new stake in Alamos Gold in the 1st quarter valued at $779,000. Institutional investors own 64.33% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on AGI. Wall Street Zen upgraded Alamos Gold from a "hold" rating to a "buy" rating in a report on Saturday. Weiss Ratings lowered Alamos Gold from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, July 23rd. Royal Bank Of Canada reduced their price objective on Alamos Gold from $52.00 to $42.00 and set an "outperform" rating for the company in a research report on Thursday, July 9th. Bank of America decreased their price objective on Alamos Gold from $50.00 to $39.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Finally, Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Alamos Gold in a research report on Saturday, June 20th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Alamos Gold has an average rating of "Moderate Buy" and a consensus target price of $47.50.

Alamos Gold Stock Performance

Shares of AGI opened at $28.85 on Wednesday. The stock has a market capitalization of $12.08 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 0.38 and a beta of 0.55. Alamos Gold Inc. has a 12 month low of $23.92 and a 12 month high of $55.41. The firm has a fifty day simple moving average of $33.49 and a 200 day simple moving average of $40.56. The company has a current ratio of 2.01, a quick ratio of 1.61 and a debt-to-equity ratio of 0.05.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last issued its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. Alamos Gold had a net margin of 51.24% and a return on equity of 18.03%. The firm had revenue of $596.70 million for the quarter, compared to analyst estimates of $612.35 million. During the same period in the previous year, the business earned $0.14 EPS. The company's revenue was up 79.2% compared to the same quarter last year. Research analysts forecast that Alamos Gold Inc. will post 2.19 EPS for the current fiscal year.

Alamos Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were issued a $0.04 dividend. The ex-dividend date was Thursday, June 11th. This represents a $0.16 annualized dividend and a dividend yield of 0.6%. Alamos Gold's dividend payout ratio (DPR) is presently 6.37%.

About Alamos Gold

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source