Trek Financial LLC Makes New $13.11 Million Investment in Alamos Gold Inc. $AGI

Trek Financial LLC purchased a new position in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) in the third quarter, Holdings Channel reports. The institutional investor purchased 404,673 shares of the basic materials company’s stock, valued at approximately $13,107,000.

A number of other institutional investors have also added to or reduced their stakes in AGI. Parallel Advisors LLC purchased a new position in Alamos Gold during the first quarter valued at approximately $35,000. Mather Group LLC. bought a new stake in Alamos Gold during the third quarter valued at $29,000. Versant Capital Management Inc grew its position in Alamos Gold by 258.0% during the third quarter. Versant Capital Management Inc now owns 1,228 shares of the basic materials company’s stock worth $40,000 after buying an additional 885 shares in the last quarter. Sunbelt Securities Inc. bought a new position in Alamos Gold in the 1st quarter worth about $59,000. Finally, CoreCap Advisors LLC boosted its position in shares of Alamos Gold by 146.8% during the 3rd quarter. CoreCap Advisors LLC now owns 1,900 shares of the basic materials company’s stock valued at $62,000 after acquiring an additional 1,130 shares during the last quarter. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Bank of America reduced their target price on Alamos Gold from $50.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Scotiabank reaffirmed an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, July 14th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $42.00 price objective on shares of Alamos Gold in a report on Wednesday, September 16th. Weiss Ratings upgraded Alamos Gold from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Finally, Wall Street Zen lowered Alamos Gold from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Alamos Gold has an average rating of “Moderate Buy” and a consensus target price of $47.50.

Alamos Gold Stock Up 0.1%

Shares of NYSE:AGI opened at $27.49 on Monday. The stock’s 50-day moving average is $33.89 and its 200 day moving average is $38.18. The company has a market cap of $11.51 billion, a PE ratio of 10.95, a P/E/G ratio of 0.43 and a beta of 0.63. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.01 and a quick ratio of 1.62. Alamos Gold Inc. has a 1 year low of $26.92 and a 1 year high of $55.41.

Alamos Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th were issued a $0.04 dividend. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.6%. Alamos Gold’s dividend payout ratio (DPR) is presently 6.37%.

About Alamos Gold

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of gold mines. The company produces gold doré and concentrate from its mining operations and also evaluates opportunities to expand existing assets and develop new projects.

Alamos Gold’s principal operations are located in Ontario, Canada, including the Young-Davidson underground mine and the Island Gold underground mine. The company also operates the Magino open-pit mine in Ontario, which became part of its portfolio through the acquisition of Argonaut Gold.