Sheets Smith Investment Management Buys New Position in Alamos Gold Inc. $AGI

Sheets Smith Investment Management bought a new position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 47,215 shares of the basic materials company’s stock, valued at approximately $1,646,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pinnacle Wealth Management Group Inc. boosted its position in shares of Alamos Gold by 0.5% during the 3rd quarter. Pinnacle Wealth Management Group Inc. now owns 72,121 shares of the basic materials company’s stock valued at $2,514,000 after purchasing an additional 390 shares in the last quarter. Williamson Legacy Group LLC lifted its stake in 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 valued at $1,520,000 after purchasing an additional 400 shares during the last quarter. StoneX Group Inc. boosted its holdings in Alamos Gold by 1.8% during the second quarter. StoneX Group Inc. now owns 26,083 shares of the basic materials company’s stock worth $693,000 after buying an additional 455 shares in the last quarter. Baird Financial Group Inc. grew its position in Alamos Gold by 0.3% in the second quarter. Baird Financial Group Inc. now owns 212,838 shares of the basic materials company’s stock worth $5,653,000 after buying an additional 661 shares during the last quarter. Finally, Captrust Financial Advisors grew its position in Alamos Gold by 5.1% in the second quarter. Captrust Financial Advisors now owns 20,495 shares of the basic materials company’s stock worth $544,000 after buying an additional 987 shares during the last quarter. 64.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Scotiabank reissued an “outperform” rating on shares of Alamos Gold in a research note on Thursday, October 23rd. Wall Street Zen raised Alamos Gold from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. TD Securities restated a “buy” rating on shares of Alamos Gold in a report on Monday, November 3rd. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Alamos Gold in a research note on Monday. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Alamos Gold in a research report on Tuesday, September 16th. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $43.00.

Alamos Gold Stock Performance

Shares of AGI stock opened at $37.74 on Friday. The company has a market capitalization of $15.85 billion, a price-to-earnings ratio of 29.49, a P/E/G ratio of 0.53 and a beta of 0.63. Alamos Gold Inc. has a 1-year low of $17.80 and a 1-year high of $39.44. 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 stock’s fifty day simple moving average is $34.23 and its 200-day simple moving average is $30.55.

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

Alamos Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $0.10 dividend on an annualized basis and a yield of 0.3%. Alamos Gold’s payout ratio is presently 7.81%.

Alamos Gold 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.