Navellier & Associates Inc. Increases Position in Alamos Gold Inc. $AGI

Navellier & Associates Inc. increased its position in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 5.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 319,838 shares of the basic materials company’s stock after acquiring an additional 17,502 shares during the period. Navellier & Associates Inc. owned approximately 0.08% of Alamos Gold worth $9,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Atlantic Union Bankshares Corp acquired a new position in Alamos Gold in the 4th quarter worth approximately $25,000. Clearstead Advisors LLC lifted its stake in Alamos Gold by 62.7% during the 4th quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 251 shares during the period. Smartleaf Asset Management LLC lifted its stake in Alamos Gold by 44.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 722 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 222 shares during the period. Parallel Advisors LLC purchased a new stake in shares of Alamos Gold in the 1st quarter valued at $35,000. Finally, Sunbelt Securities Inc. purchased a new stake in shares of Alamos Gold in the 1st quarter valued at $59,000. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

Alamos Gold Stock Performance

NYSE AGI opened at $36.78 on Friday. The stock has a market capitalization of $15.40 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 0.51 and a beta of 0.56. Alamos Gold Inc. has a twelve month low of $27.05 and a twelve month high of $55.41. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average of $31.62 and a 200 day moving average of $39.38.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.52 by $0.07. The company had revenue of $594.10 million for the quarter, compared to analyst estimates of $593.58 million. Alamos Gold had a return on equity of 19.28% and a net margin of 52.64%.Alamos Gold’s quarterly revenue was up 35.6% compared to the same quarter last year. During the same period last year, the company earned $0.34 earnings per share. Sell-side analysts anticipate that Alamos Gold Inc. will post 2.12 EPS for the current fiscal year.

Alamos Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. Alamos Gold’s dividend payout ratio (DPR) is currently 5.78%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AGI. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Alamos Gold in a research note on Saturday, June 20th. Jefferies Financial Group decreased their price target on Alamos Gold from $50.00 to $49.00 and set a “buy” rating for the company in a report on Monday, July 6th. Wall Street Zen lowered Alamos Gold from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Royal Bank Of Canada dropped their price objective on shares of Alamos Gold from $52.00 to $42.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Alamos Gold in a report on Tuesday, July 14th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

About Alamos Gold

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.