Public Sector Pension Investment Board Makes New $1.10 Million Investment in Alamos Gold Inc. $AGI

Public Sector Pension Investment Board acquired a new position in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) during the third quarter, according to its most recent filing with the SEC. The firm acquired 31,396 shares of the basic materials company’s stock, valued at approximately $1,095,000.

Several other hedge funds have also recently made changes to their positions in the business. Caprock Group LLC bought a new position in shares of Alamos Gold during the third quarter valued at approximately $17,472,000. Stratos Wealth Partners LTD. increased its position in Alamos Gold by 2.4% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 33,352 shares of the basic materials company’s stock valued at $1,163,000 after purchasing an additional 774 shares during the period. Navellier & Associates Inc. raised its holdings in Alamos Gold by 3.3% in the 3rd quarter. Navellier & Associates Inc. now owns 282,233 shares of the basic materials company’s stock worth $9,839,000 after purchasing an additional 9,080 shares in the last quarter. Profund Advisors LLC raised its holdings in Alamos Gold by 47.0% in the 3rd quarter. Profund Advisors LLC now owns 51,866 shares of the basic materials company’s stock worth $1,808,000 after purchasing an additional 16,573 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in shares of Alamos Gold by 12.1% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 15,312 shares of the basic materials company’s stock worth $534,000 after purchasing an additional 1,652 shares during the period. 64.33% of the stock is owned by hedge funds and other institutional investors.

Alamos Gold Stock Performance

Shares of AGI opened at $49.60 on Tuesday. The company has a quick ratio of 1.60, a current ratio of 2.00 and a debt-to-equity ratio of 0.05. The stock has a market cap of $20.82 billion, a P/E ratio of 23.62, a P/E/G ratio of 0.45 and a beta of 0.61. The business’s 50 day moving average price is $41.33 and its 200-day moving average price is $35.64. Alamos Gold Inc. has a 52 week low of $22.03 and a 52 week high of $49.83.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. Alamos Gold had a return on equity of 14.83% and a net margin of 48.97%.The company had revenue of $575.30 million during the quarter, compared to analyst estimates of $596.18 million. During the same quarter last year, the company earned $0.25 EPS. The firm’s revenue for the quarter was up 53.1% on a year-over-year basis. Equities research analysts anticipate that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be given a $0.04 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.16 annualized dividend and a dividend yield of 0.3%. This is a boost from Alamos Gold’s previous quarterly dividend of $0.03. Alamos Gold’s payout ratio is presently 4.76%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Alamos Gold in a research report on Wednesday, February 4th. Jefferies Financial Group reiterated a “buy” rating and set a $49.00 target price on shares of Alamos Gold in a report on Sunday, December 7th. Wall Street Zen upgraded Alamos Gold from a “hold” rating to a “strong-buy” rating in a research note on Saturday. TD Securities restated a “buy” rating on shares of Alamos Gold in a research report on Monday, November 3rd. Finally, Scotiabank increased their price objective on Alamos Gold from $55.00 to $60.00 and gave the stock a “sector outperform” rating in a report on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $45.50.

Alamos Gold Company Profile

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.