Trading Report: The AGF Investments Inc. Acquires 166,646 Shares of Alamos Gold Inc. (AGI)

The AGF Investments Inc. Acquires 166,646 Shares of Alamos Gold Inc. (AGI)

AGF Investments Inc. boosted its position in shares of Alamos Gold Inc. (NYSE:AGI) by 49.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 505,935 shares of the company’s stock after buying an additional 166,646 shares during the period. AGF Investments Inc.’s holdings in Alamos Gold were worth $4,349,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AGI. Montrusco Bolton Investments Inc. purchased a new position in shares of Alamos Gold during the second quarter worth $165,000. Moore Capital Management LP purchased a new position in shares of Alamos Gold during the first quarter worth $434,000. ClariVest Asset Management LLC raised its position in shares of Alamos Gold by 15.5% in the second quarter. ClariVest Asset Management LLC now owns 152,782 shares of the company’s stock worth $1,315,000 after buying an additional 20,500 shares in the last quarter. CIBC World Markets Inc. raised its position in shares of Alamos Gold by 110.2% in the second quarter. CIBC World Markets Inc. now owns 222,104 shares of the company’s stock worth $1,910,000 after buying an additional 116,426 shares in the last quarter. Finally, Aristotle Capital Boston LLC raised its position in shares of Alamos Gold by 13.3% in the first quarter. Aristotle Capital Boston LLC now owns 283,676 shares of the company’s stock worth $1,501,000 after buying an additional 33,381 shares in the last quarter. 60.56% of the stock is currently owned by institutional investors and hedge funds.

Shares of Alamos Gold Inc. (NYSE:AGI) traded down 2.54% during mid-day trading on Friday, reaching $7.68. The company’s stock had a trading volume of 2,296,708 shares. Alamos Gold Inc. has a 1-year low of $2.27 and a 1-year high of $10.41. The company’s 50 day moving average price is $8.05 and its 200-day moving average price is $7.89. The company’s market capitalization is $2.05 billion.

Alamos Gold (NYSE:AGI) last posted its quarterly earnings data on Wednesday, August 10th. The company reported ($0.01) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.01). The firm earned $120.10 million during the quarter, compared to the consensus estimate of $129.13 million. Alamos Gold had a negative return on equity of 3.73% and a negative net margin of 21.64%. The firm’s revenue was up 68.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.11) EPS. Analysts predict that Alamos Gold Inc. will post $0.02 earnings per share for the current fiscal year.

The business also recently disclosed a semiannual dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, October 14th will be paid a dividend of $0.01 per share. This represents a yield of 0.24%. The ex-dividend date is Wednesday, October 12th. Alamos Gold’s dividend payout ratio is presently -5.41%.

A number of brokerages have recently weighed in on AGI. National Bank Financial lowered Alamos Gold from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from $12.00 to $13.00 in a report on Wednesday, July 13th. Desjardins lowered Alamos Gold from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. TD Securities reissued a “hold” rating and issued a $11.50 price objective (up from $10.00) on shares of Alamos Gold in a report on Saturday, August 13th. Zacks Investment Research lowered Alamos Gold from a “hold” rating to a “sell” rating in a report on Tuesday, September 13th. Finally, Canaccord Genuity reissued a “hold” rating and issued a $12.50 price objective (down from $14.00) on shares of Alamos Gold in a report on Saturday, August 13th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Alamos Gold currently has a consensus rating of “Hold” and a consensus target price of $10.31.

About Alamos Gold

Alamos Gold Inc is a Canada-based mid-tier gold producer. The Company owns and operates the Mulatos Mine, as well as the Esperanza, Agi Dagi, Kirazli and Camyurt gold development projects. The Mulatos mine is located within the 30,536 hectares Salamandra group of concessions in the state of Sonora in northwest Mexico.

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