Alamos Gold Inc. (NYSE:AGI) Position Increased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 79.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,859,699 shares of the basic materials company’s stock after buying an additional 2,149,915 shares during the period. CIBC Asset Management Inc’s holdings in Alamos Gold were worth $97,336,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AGI. Foundation Resource Management Inc. boosted its stake in Alamos Gold by 3.0% during the 3rd quarter. Foundation Resource Management Inc. now owns 41,425 shares of the basic materials company’s stock valued at $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 Alamos Gold by 3.4% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 38,816 shares of the basic materials company’s stock worth $609,000 after buying an additional 1,282 shares in the last quarter. Commonwealth Equity Services LLC increased its position in Alamos Gold by 2.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 66,445 shares of the basic materials company’s stock valued at $1,042,000 after acquiring an additional 1,654 shares during the period. Easterly Investment Partners LLC raised its stake in Alamos Gold by 0.6% during the 2nd quarter. Easterly Investment Partners LLC now owns 277,910 shares of the basic materials company’s stock valued at $4,358,000 after acquiring an additional 1,673 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in Alamos Gold by 18.4% during 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 period. 64.33% of the stock is currently owned by institutional investors.

Alamos Gold Price Performance

AGI opened at $17.74 on Friday. The stock has a market cap of $7.45 billion, a price-to-earnings ratio of 29.57, a PEG ratio of 0.80 and a beta of 1.19. The company has a current ratio of 1.62, a quick ratio of 0.97 and a debt-to-equity ratio of 0.08. Alamos Gold Inc. has a 1 year low of $11.24 and a 1 year high of $21.45. The stock has a fifty day moving average price of $19.93 and a 200 day moving average price of $17.95.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its earnings results on Wednesday, November 6th. The basic materials company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.03). The business had revenue of $360.90 million during the quarter. Alamos Gold had a return on equity of 8.85% and a net margin of 19.89%. Analysts forecast that Alamos Gold Inc. will post 0.77 EPS for the current fiscal year.

Alamos Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were issued a $0.025 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.10 annualized dividend and a yield of 0.56%. Alamos Gold’s dividend payout ratio (DPR) is currently 16.67%.

Wall Street Analysts Forecast Growth

AGI has been the topic of a number of research analyst reports. StockNews.com lowered Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 22nd. National Bank Financial lowered shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a research note on Sunday, September 8th. Royal Bank of Canada lifted their target price on Alamos Gold from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Scotiabank increased their price objective on Alamos Gold from $20.00 to $22.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Finally, Jefferies Financial Group upped their price objective on shares of Alamos Gold from $23.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Alamos Gold presently has a consensus rating of “Moderate Buy” and an average target price of $25.06.

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.