Pure Portfolios Holdings LLC Takes $458,000 Position in Alamos Gold Inc. (NYSE:AGI)

Pure Portfolios Holdings LLC purchased a new position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 22,987 shares of the basic materials company’s stock, valued at approximately $458,000.

A number of other large investors also recently modified their holdings of the stock. Mackenzie Financial Corp raised its position in shares of Alamos Gold by 147.6% during the second quarter. Mackenzie Financial Corp now owns 7,585,450 shares of the basic materials company’s stock worth $119,003,000 after acquiring an additional 4,521,282 shares during the last quarter. Van ECK Associates Corp increased its stake 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 raised its holdings in Alamos Gold by 71.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,581 shares of the basic materials company’s stock worth $97,183,000 after purchasing an additional 2,756,759 shares during the period. CIBC Asset Management Inc lifted its holdings in Alamos Gold by 311.9% during 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. grew its position in shares of Alamos Gold by 328.2% in the 2nd 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 currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AGI has been the topic of a number of research reports. Royal Bank of Canada lifted their price target 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 boosted their price objective on shares of Alamos Gold from $23.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, October 4th. StockNews.com upgraded Alamos Gold from a “buy” rating to a “strong-buy” rating in a report on Monday, October 14th. National Bank Financial lowered Alamos Gold from a “strong-buy” rating to a “hold” rating in a report on Sunday, September 8th. Finally, Scotiabank upped their price objective on 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 investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $25.06.

Alamos Gold Price Performance

Shares of NYSE AGI opened at $20.99 on Friday. Alamos Gold Inc. has a fifty-two week low of $11.24 and a fifty-two week high of $21.42. The stock has a market capitalization of $8.38 billion, a price-to-earnings ratio of 40.37, a PEG ratio of 0.86 and a beta of 1.18. The business has a 50-day moving average of $19.59 and a 200-day moving average of $17.31.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $332.60 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company posted $0.15 earnings per share. On average, sell-side analysts expect that Alamos Gold Inc. will post 0.75 EPS for the current year.

Alamos Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders 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 yield of 0.48%. The ex-dividend date was Thursday, September 12th. Alamos Gold’s dividend payout ratio (DPR) is presently 19.23%.

About Alamos Gold

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.