CIBC Asset Management Inc Raises Holdings in Alamos Gold Inc. (NYSE:AGI)

CIBC Asset Management Inc boosted its holdings in shares of Alamos Gold Inc. (NYSE:AGI – Get Rating) (TSE:AGI) by 1.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 528,134 shares of the basic materials company’s stock after buying an additional 5,676 shares during the quarter. CIBC Asset Management Inc’s holdings in Alamos Gold were worth $4,441,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AGI. Russell Investments Group Ltd. increased its holdings in Alamos Gold by 186.9% during the fourth quarter. Russell Investments Group Ltd. now owns 93,977 shares of the basic materials company’s stock valued at $723,000 after buying an additional 61,226 shares during the period. Assenagon Asset Management S.A. grew its holdings in Alamos Gold by 54.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 110,180 shares of the basic materials company’s stock worth $847,000 after purchasing an additional 38,924 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Alamos Gold by 75.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,891 shares of the basic materials company’s stock worth $561,000 after purchasing an additional 31,708 shares during the last quarter. FDx Advisors Inc. grew its holdings in Alamos Gold by 8.6% in the fourth quarter. FDx Advisors Inc. now owns 22,848 shares of the basic materials company’s stock worth $176,000 after purchasing an additional 1,803 shares during the last quarter. Finally, HC Advisors LLC grew its holdings in Alamos Gold by 42.0% in the fourth quarter. HC Advisors LLC now owns 22,608 shares of the basic materials company’s stock worth $174,000 after purchasing an additional 6,690 shares during the last quarter. 62.33% of the stock is owned by hedge funds and other institutional investors.

Alamos Gold Price Performance

NYSE AGI opened at $7.79 on Friday. The company has a market capitalization of $3.05 billion, a PE ratio of 55.64, a P/E/G ratio of 2.84 and a beta of 1.07. The company has a fifty day moving average of $7.41 and a 200 day moving average of $7.64. Alamos Gold Inc. has a 1 year low of $6.51 and a 1 year high of $9.22.

Alamos Gold (NYSE:AGI – Get Rating) (TSE:AGI) last posted its earnings results on Wednesday, July 27th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The company had revenue of $191.20 million during the quarter, compared to the consensus estimate of $195.11 million. Alamos Gold had a net margin of 6.76% and a return on equity of 4.51%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 earnings per share. Research analysts expect that Alamos Gold Inc. will post 0.37 earnings per share for the current year.

Alamos Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Thursday, June 16th were given a dividend of $0.025 per share. The ex-dividend date was Wednesday, June 15th. This represents a $0.10 dividend on an annualized basis and a yield of 1.28%. Alamos Gold’s dividend payout ratio is presently 71.43%.

Analysts Set New Price Targets

Several research firms have issued reports on AGI. Canaccord Genuity Group lifted their price target on shares of Alamos Gold from C$12.00 to C$13.00 in a report on Thursday, June 30th. Stifel Nicolaus cut their price target on shares of Alamos Gold from C$18.25 to C$16.00 in a report on Wednesday, July 20th. StockNews.com raised shares of Alamos Gold from a “sell” rating to a “hold” rating in a report on Saturday. National Bank Financial lowered their price objective on shares of Alamos Gold from C$13.00 to C$12.50 in a research note on Thursday, July 21st. Finally, TD Securities lifted their price objective on shares of Alamos Gold from C$16.00 to C$16.50 in a research note on Thursday, June 30th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Alamos Gold presently has a consensus rating of “Moderate Buy” and an average price target of $12.75.

Alamos Gold Company Profile

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Alamos Gold Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and extraction of precious metals in Canada, Mexico, the United States, and Turkey. It primary explores for gold and silver. The company's flagship project is the Young-Davidson mine, which includes contiguous mineral leases and claims totaling 5,587 hectares located in Matachewan in the Northern Ontario, Canada.