Marshall Wace LLP Purchases New Stake in Alamos Gold Inc. (NYSE:AGI)

Marshall Wace LLP bought a new stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) during the 2nd quarter, Holdings Channel reports. The fund bought 17,000 shares of the basic materials company’s stock, valued at approximately $267,000.

Other hedge funds have also recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co raised its position in shares of Alamos Gold by 131.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 97,403 shares of the basic materials company’s stock worth $1,434,000 after purchasing an additional 55,352 shares during the period. National Bank of Canada FI grew its stake in Alamos Gold by 3.4% in the first quarter. National Bank of Canada FI now owns 1,394,930 shares of the basic materials company’s stock valued at $21,824,000 after purchasing an additional 45,412 shares in the last quarter. Vanguard Group Inc. grew its stake in Alamos Gold by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 14,419,042 shares of the basic materials company’s stock valued at $194,224,000 after purchasing an additional 216,280 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Alamos Gold by 71.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,588,581 shares of the basic materials company’s stock worth $97,183,000 after acquiring an additional 2,756,759 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of Alamos Gold by 66.2% during the 1st quarter. Russell Investments Group Ltd. now owns 191,746 shares of the basic materials company’s stock worth $2,829,000 after acquiring an additional 76,379 shares during the period. Institutional investors and hedge funds own 64.33% of the company’s stock.

Wall Street Analysts Forecast Growth

AGI has been the subject of several research reports. Jefferies Financial Group lifted their price target on Alamos Gold from $23.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Scotiabank boosted their price objective on Alamos Gold from $20.00 to $22.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. National Bank Financial lowered Alamos Gold from a “strong-buy” rating to a “hold” rating in a research report on Sunday, September 8th. Finally, Royal Bank of Canada upped their price target on Alamos Gold from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $25.06.

Alamos Gold Stock Up 0.2 %

AGI stock opened at $19.60 on Friday. The stock has a 50-day simple moving average of $19.24 and a two-hundred day simple moving average of $17.06. Alamos Gold Inc. has a twelve month low of $11.24 and a twelve month high of $21.42. The firm has a market capitalization of $8.23 billion, a PE ratio of 39.16, a PEG ratio of 0.86 and a beta of 1.18.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. The company had revenue of $332.60 million during the quarter, compared to analyst estimates of $282.78 million. Alamos Gold had a return on equity of 8.52% and a net margin of 17.73%. Alamos Gold’s revenue was up 27.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.15 earnings per share. On average, equities research analysts anticipate that Alamos Gold Inc. will post 0.75 EPS for the current fiscal year.

Alamos Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were given a dividend of $0.025 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.10 annualized dividend and a dividend yield of 0.51%. Alamos Gold’s dividend payout ratio (DPR) is presently 20.00%.

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.