Panagora Asset Management Inc. Grows Stock Holdings in Alamos Gold Inc. $AGI

Panagora Asset Management Inc. boosted its stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 39.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 360,500 shares of the basic materials company’s stock after acquiring an additional 101,820 shares during the period. Panagora Asset Management Inc.’s holdings in Alamos Gold were worth $9,575,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. BLI Banque de Luxembourg Investments grew its stake in shares of Alamos Gold by 20.0% in the 2nd quarter. BLI Banque de Luxembourg Investments now owns 600,000 shares of the basic materials company’s stock valued at $15,800,000 after purchasing an additional 100,000 shares during the last quarter. Williamson Legacy Group LLC lifted its holdings in shares of Alamos Gold by 0.7% during the second quarter. Williamson Legacy Group LLC now owns 57,228 shares of the basic materials company’s stock worth $1,520,000 after purchasing an additional 400 shares during the period. Schroder Investment Management Group grew its position in Alamos Gold by 62.8% in the 2nd quarter. Schroder Investment Management Group now owns 1,142,789 shares of the basic materials company’s stock valued at $30,352,000 after buying an additional 440,764 shares during the last quarter. Mackenzie Financial Corp increased its stake in Alamos Gold by 32.3% in the 2nd quarter. Mackenzie Financial Corp now owns 8,979,615 shares of the basic materials company’s stock valued at $238,990,000 after buying an additional 2,192,593 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in Alamos Gold in the 2nd quarter valued at $98,000. 64.33% of the stock is owned by institutional investors and hedge funds.

Alamos Gold Trading Down 2.2%

Shares of AGI opened at $36.21 on Wednesday. Alamos Gold Inc. has a twelve month low of $17.80 and a twelve month high of $38.00. The company has a current ratio of 1.72, a quick ratio of 1.33 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $15.23 billion, a P/E ratio of 28.29, a PEG ratio of 0.52 and a beta of 0.63. The firm’s 50-day moving average is $33.51 and its two-hundred day moving average is $29.67.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings results on Wednesday, October 29th. The basic materials company reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. The business had revenue of $462.30 million for the quarter, compared to analyst estimates of $490.96 million. Alamos Gold had a return on equity of 12.36% and a net margin of 33.46%.The company’s quarterly revenue was up 28.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.19 EPS. On average, research analysts predict that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be issued a $0.025 dividend. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $0.10 annualized dividend and a yield of 0.3%. Alamos Gold’s dividend payout ratio is 7.81%.

Analysts Set New Price Targets

AGI has been the subject of several recent analyst reports. National Bankshares restated an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, August 5th. TD Securities restated a “buy” rating on shares of Alamos Gold in a research report on Monday, November 3rd. Scotiabank reaffirmed an “outperform” rating on shares of Alamos Gold in a report on Thursday, October 23rd. Desjardins initiated coverage on Alamos Gold in a research note on Friday, November 28th. They set a “buy” rating for the company. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Alamos Gold in a report on Tuesday, September 16th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Alamos Gold has an average rating of “Buy” and an average price target of $41.00.

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.