Eastern Bank Purchases New Holdings in Alamos Gold Inc. (NYSE:AGI)

Eastern Bank acquired a new position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,549 shares of the basic materials company’s stock, valued at approximately $111,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Foundation Resource Management Inc. boosted its holdings in shares of Alamos Gold by 3.0% in the 3rd quarter. Foundation Resource Management Inc. now owns 41,425 shares of the basic materials company’s stock valued at $826,000 after purchasing an additional 1,190 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in Alamos Gold by 3.4% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 38,816 shares of the basic materials company’s stock valued at $609,000 after acquiring an additional 1,282 shares during the last quarter. Commonwealth Equity Services LLC grew its position in Alamos Gold by 2.6% in the second quarter. Commonwealth Equity Services LLC now owns 66,445 shares of the basic materials company’s stock valued at $1,042,000 after acquiring an additional 1,654 shares during the last quarter. Easterly Investment Partners LLC raised its stake in Alamos Gold by 0.6% during the second quarter. Easterly Investment Partners LLC now owns 277,910 shares of the basic materials company’s stock worth $4,358,000 after acquiring an additional 1,673 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Alamos Gold by 18.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,785 shares of the basic materials company’s stock worth $216,000 after acquiring an additional 2,141 shares during the last quarter. 64.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AGI shares. Jefferies Financial Group upped their price objective on shares of Alamos Gold from $23.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Royal Bank of Canada increased their price target on Alamos Gold from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. 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 cut Alamos Gold from a “strong-buy” rating to a “hold” rating in a report on Sunday, September 8th. Finally, StockNews.com lowered Alamos Gold from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.06.

Alamos Gold Trading Down 0.0 %

Shares of AGI opened at $21.09 on Friday. The stock’s 50-day moving average price is $19.80 and its two-hundred day moving average price is $17.47. Alamos Gold Inc. has a 12 month low of $11.24 and a 12 month high of $21.45. The company has a market capitalization of $8.42 billion, a PE ratio of 40.56, a PEG ratio of 0.86 and a beta of 1.18.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The company had revenue of $332.60 million for 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%. The firm’s quarterly revenue was up 27.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.15 earnings per share. Equities research analysts predict that Alamos Gold Inc. will post 0.75 EPS for the current fiscal year.

Alamos Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Thursday, September 12th. Alamos Gold’s dividend payout ratio (DPR) is presently 19.23%.

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.