Legacy Capital Group California Inc. Takes Position in Alamos Gold Inc. (NYSE:AGI)

Legacy Capital Group California Inc. bought a new position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,572 shares of the basic materials company’s stock, valued at approximately $211,000.

Other large investors have also bought and sold shares of the company. Foundation Resource Management Inc. raised its position in shares of Alamos Gold by 3.0% during the third quarter. Foundation Resource Management Inc. now owns 41,425 shares of the basic materials company’s stock worth $826,000 after purchasing an additional 1,190 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in shares of Alamos Gold by 3.4% during 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 buying an additional 1,282 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Alamos Gold by 2.6% during 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 buying an additional 1,654 shares during the last quarter. Easterly Investment Partners LLC increased its position in shares of 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 raised its holdings in shares of Alamos Gold by 18.4% in the 2nd 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 currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on AGI. Royal Bank of Canada increased their price objective on Alamos Gold from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. National Bank Financial lowered Alamos Gold from a “strong-buy” rating to a “hold” rating in a research report on Sunday, September 8th. Scotiabank lifted their price objective on shares of Alamos Gold from $20.00 to $22.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. StockNews.com lowered shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 22nd. Finally, 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. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Alamos Gold currently has a consensus rating of “Moderate Buy” and an average price target of $25.06.

Alamos Gold Stock Performance

Shares of NYSE:AGI opened at $20.77 on Friday. The company has a market capitalization of $8.29 billion, a P/E ratio of 39.94, a price-to-earnings-growth ratio of 0.86 and a beta of 1.18. The company’s 50-day moving average is $19.84 and its 200 day moving average is $17.53. Alamos Gold Inc. has a fifty-two week low of $11.24 and a fifty-two week high of $21.45.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its earnings results on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $332.60 million during the quarter, compared to the consensus estimate of $282.78 million. Alamos Gold had a net margin of 17.73% and a return on equity of 8.52%. The company’s revenue was up 27.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.15 EPS. As a group, research analysts predict that Alamos Gold Inc. will post 0.75 earnings per share for the current year.

Alamos Gold Dividend Announcement

The company also recently declared 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. The ex-dividend date was Thursday, September 12th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.48%. Alamos Gold’s dividend payout ratio 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.