Alamos Gold Inc. (NYSE:AGI) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 79.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,859,699 shares of the basic materials company’s stock after acquiring an additional 2,149,915 shares during the quarter. CIBC Asset Management Inc owned about 1.16% of Alamos Gold worth $97,336,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of AGI. Baldwin Brothers LLC MA acquired a new position in shares of Alamos Gold during the second quarter worth about $47,000. Hara Capital LLC purchased a new position in Alamos Gold in the third quarter worth $47,000. Daiwa Securities Group Inc. acquired a new stake in Alamos Gold in the second quarter valued at $48,000. Employees Retirement System of Texas purchased a new stake in shares of Alamos Gold during the 2nd quarter worth $88,000. Finally, Eastern Bank acquired a new position in shares of Alamos Gold during the 3rd quarter worth $111,000. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

Alamos Gold Price Performance

Shares of Alamos Gold stock opened at $17.74 on Friday. The business’s fifty day moving average price is $19.93 and its 200 day moving average price is $17.95. The stock has a market capitalization of $7.45 billion, a P/E ratio of 29.57, a PEG ratio of 0.80 and a beta of 1.19. Alamos Gold Inc. has a twelve month low of $11.24 and a twelve month high of $21.45. 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 (NYSE:AGI) (TSE:AGI) last released its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.03). Alamos Gold had a return on equity of 8.85% and a net margin of 19.89%. The business had revenue of $360.90 million for the quarter. As a group, research analysts anticipate that Alamos Gold Inc. will post 0.77 earnings per share for the current year.

Alamos Gold Announces Dividend

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

Analysts Set New Price Targets

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