U S Global Investors Inc. Purchases 68,500 Shares of Alamos Gold Inc. (NYSE:AGI)

U S Global Investors Inc. raised its position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 27.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 318,500 shares of the basic materials company’s stock after buying an additional 68,500 shares during the quarter. Alamos Gold comprises 0.6% of U S Global Investors Inc.’s portfolio, making the stock its 27th biggest holding. U S Global Investors Inc. owned approximately 0.08% of Alamos Gold worth $6,351,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Mackenzie Financial Corp increased its position in Alamos Gold by 147.6% in the second quarter. Mackenzie Financial Corp now owns 7,585,450 shares of the basic materials company’s stock worth $119,003,000 after purchasing an additional 4,521,282 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Alamos Gold by 8.3% in the 1st quarter. Van ECK Associates Corp now owns 52,397,485 shares of the basic materials company’s stock valued at $772,863,000 after acquiring an additional 4,009,220 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Alamos Gold by 71.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,588,581 shares of the basic materials company’s stock valued at $97,183,000 after acquiring an additional 2,756,759 shares during the last quarter. CIBC Asset Management Inc grew its position in Alamos Gold by 311.9% in the second quarter. CIBC Asset Management Inc now owns 2,709,784 shares of the basic materials company’s stock worth $42,480,000 after acquiring an additional 2,051,935 shares in the last quarter. Finally, Triasima Portfolio Management inc. raised its position in Alamos Gold by 328.2% during the second quarter. Triasima Portfolio Management inc. now owns 1,389,027 shares of the basic materials company’s stock valued at $21,779,000 after purchasing an additional 1,064,629 shares during the period. 64.33% of the stock is owned by hedge funds and other institutional investors.

Alamos Gold Trading Up 2.2 %

Shares of NYSE AGI traded up $0.46 during mid-day trading on Tuesday, reaching $21.25. The company had a trading volume of 148,831 shares, compared to its average volume of 2,343,733. Alamos Gold Inc. has a 52 week low of $11.24 and a 52 week high of $21.45. The business’s 50-day moving average is $19.64 and its 200-day moving average is $17.38. The stock has a market cap of $8.48 billion, a price-to-earnings ratio of 39.99, a price-to-earnings-growth ratio of 0.86 and a beta of 1.18.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $332.60 million for the quarter, compared to analyst estimates of $282.78 million. Alamos Gold had a net margin of 17.73% and a return on equity of 8.52%. The company’s quarterly revenue was up 27.4% compared to the same quarter last year. During the same period last year, the company posted $0.15 earnings per share. As a group, equities research analysts forecast that Alamos Gold Inc. will post 0.75 earnings per share for the current 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. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Thursday, September 12th. Alamos Gold’s payout ratio is 19.23%.

Analysts Set New Price Targets

A number of brokerages have recently commented on AGI. National Bank Financial cut Alamos Gold from a “strong-buy” rating to a “hold” rating in a report on Sunday, September 8th. StockNews.com lowered shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Royal Bank of Canada increased their target price on shares of Alamos Gold from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. 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 research note on Friday, October 4th. Finally, Scotiabank increased 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. Two equities research 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 presently has an average rating of “Moderate Buy” and a consensus price target 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.