Renaissance Technologies LLC Has $138.93 Million Holdings in Alamos Gold Inc. (NYSE:AGI)

Renaissance Technologies LLC boosted its position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,534,253 shares of the basic materials company’s stock after acquiring an additional 318,360 shares during the period. Renaissance Technologies LLC’s holdings in Alamos Gold were worth $138,932,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in AGI. Old West Investment Management LLC grew its holdings in Alamos Gold by 11.0% in the 3rd quarter. Old West Investment Management LLC now owns 485,892 shares of the basic materials company’s stock valued at $9,689,000 after buying an additional 48,128 shares during the last quarter. CIBC Asset Management Inc increased its position in Alamos Gold by 59.0% during the fourth quarter. CIBC Asset Management Inc now owns 7,726,726 shares of the basic materials company’s stock worth $142,936,000 after acquiring an additional 2,867,027 shares during the period. Canoe Financial LP acquired a new position in Alamos Gold during the 4th quarter valued at $4,066,000. Geode Capital Management LLC boosted its holdings in Alamos Gold by 11.1% in the 3rd quarter. Geode Capital Management LLC now owns 299,612 shares of the basic materials company’s stock valued at $6,224,000 after purchasing an additional 29,933 shares during the period. Finally, National Bank of Canada FI grew its position in Alamos Gold by 18.4% in the 3rd quarter. National Bank of Canada FI now owns 1,529,315 shares of the basic materials company’s stock worth $30,492,000 after purchasing an additional 237,278 shares during the last quarter. 64.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AGI has been the subject of several research reports. Royal Bank of Canada increased their target price on shares of Alamos Gold from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Friday. National Bank Financial upgraded Alamos Gold to a “strong-buy” rating in a research report on Friday, March 21st. Finally, StockNews.com upgraded Alamos Gold from a “hold” rating to a “buy” rating in a research report on Sunday. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alamos Gold currently has an average rating of “Buy” and a consensus price target of $26.81.

Alamos Gold Stock Performance

NYSE:AGI opened at $24.51 on Tuesday. The stock has a market capitalization of $10.30 billion, a P/E ratio of 35.52, a price-to-earnings-growth ratio of 0.40 and a beta of 1.02. Alamos Gold Inc. has a 1 year low of $14.31 and a 1 year high of $27.32. The firm has a 50 day moving average of $23.84 and a 200-day moving average of $20.99. The company has a current ratio of 1.51, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its earnings results on Wednesday, February 19th. The basic materials company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Alamos Gold had a net margin of 21.11% and a return on equity of 10.05%. The company had revenue of $375.80 million during the quarter, compared to the consensus estimate of $388.06 million. As a group, sell-side analysts anticipate that Alamos Gold Inc. will post 1.29 EPS for the current fiscal year.

Alamos Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Thursday, March 13th. Alamos Gold’s dividend payout ratio (DPR) is currently 14.49%.

About Alamos Gold

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.