Foundation Resource Management Inc. Raises Stock Holdings in Alamos Gold Inc. (NYSE:AGI)

Foundation Resource Management Inc. increased its holdings in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 3.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,425 shares of the basic materials company’s stock after acquiring an additional 1,190 shares during the quarter. Foundation Resource Management Inc.’s holdings in Alamos Gold were worth $826,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Cypress Wealth Services LLC bought a new stake in shares of Alamos Gold during the 3rd quarter worth $437,000. B. Riley Wealth Advisors Inc. raised its position in Alamos Gold by 11.8% in the second quarter. B. Riley Wealth Advisors Inc. now owns 127,364 shares of the basic materials company’s stock worth $1,997,000 after acquiring an additional 13,450 shares during the period. Lighthouse Investment Partners LLC bought a new stake in Alamos Gold in the second quarter worth about $1,967,000. Lloyd Harbor Capital Management LLC boosted its stake in Alamos Gold by 3.5% in the second quarter. Lloyd Harbor Capital Management LLC now owns 590,000 shares of the basic materials company’s stock valued at $9,251,000 after acquiring an additional 20,000 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of Alamos Gold by 147.6% during the 2nd quarter. Mackenzie Financial Corp now owns 7,585,450 shares of the basic materials company’s stock valued at $119,003,000 after acquiring an additional 4,521,282 shares during the period. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Alamos Gold Stock Performance

NYSE:AGI opened at $19.60 on Friday. Alamos Gold Inc. has a 52-week low of $11.24 and a 52-week high of $21.42. The business’s fifty day moving average is $19.24 and its 200 day moving average is $17.06. The firm has a market cap of $7.82 billion, a price-to-earnings ratio of 37.68, a PEG ratio of 0.86 and a beta of 1.18.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $332.60 million for 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 for the quarter was up 27.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 earnings per share. Equities analysts predict that Alamos Gold Inc. will post 0.75 EPS for the current fiscal year.

Alamos Gold Announces Dividend

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 of this dividend was Thursday, September 12th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.51%. Alamos Gold’s dividend payout ratio (DPR) is currently 19.23%.

Analyst Ratings Changes

A number of equities research analysts recently commented on AGI shares. Jefferies Financial Group lifted their price target on shares of Alamos Gold from $23.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Scotiabank upped their price target 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. National Bank Financial downgraded Alamos Gold from a “strong-buy” rating to a “hold” rating in a research note on Sunday, September 8th. Finally, Royal Bank of Canada boosted their price objective on Alamos Gold from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.