Veracity Capital LLC Raises Stock Position in Alamos Gold Inc. (NYSE:AGI)

Veracity Capital LLC raised its holdings in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 15.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,875 shares of the basic materials company’s stock after acquiring an additional 2,949 shares during the quarter. Veracity Capital LLC’s holdings in Alamos Gold were worth $436,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in AGI. Vanguard Group Inc. raised its stake in Alamos Gold by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 14,419,042 shares of the basic materials company’s stock valued at $194,224,000 after purchasing an additional 216,280 shares during the period. St. Johns Investment Management Company LLC bought a new stake in shares of Alamos Gold during the first quarter valued at approximately $115,000. Harbour Capital Advisors LLC lifted its holdings in shares of Alamos Gold by 75.7% in the first quarter. Harbour Capital Advisors LLC now owns 48,480 shares of the basic materials company’s stock worth $709,000 after buying an additional 20,890 shares in the last quarter. Stapp Wealth Management Pllc bought a new position in shares of Alamos Gold during the first quarter worth $254,000. Finally, Van ECK Associates Corp grew its stake in Alamos Gold by 8.3% during the first 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 in the last quarter. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

Alamos Gold Stock Performance

Shares of Alamos Gold stock opened at $20.99 on Friday. The stock has a market cap of $8.38 billion, a price-to-earnings ratio of 40.37, a price-to-earnings-growth ratio of 0.86 and a beta of 1.18. The stock has a 50 day moving average price of $19.59 and a 200-day moving average price of $17.31. Alamos Gold Inc. has a one year low of $11.24 and a one year high of $21.42.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. Alamos Gold had a net margin of 17.73% and a return on equity of 8.52%. The company had revenue of $332.60 million during the quarter, compared to analyst estimates of $282.78 million. During the same period in the previous year, the firm earned $0.15 earnings per share. Alamos Gold’s quarterly revenue was up 27.4% compared to the same quarter last year. Sell-side analysts predict that Alamos Gold Inc. will post 0.75 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.10 annualized dividend and a yield of 0.48%. Alamos Gold’s payout ratio is 19.23%.

Analyst Upgrades and Downgrades

Several brokerages have commented on AGI. Royal Bank of Canada boosted their price target on shares of Alamos Gold from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. National Bank Financial lowered Alamos Gold from a “strong-buy” rating to a “hold” rating in a research note on Sunday, September 8th. Scotiabank lifted their price objective on Alamos Gold from $20.00 to $22.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. StockNews.com upgraded Alamos Gold from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 14th. Finally, Jefferies Financial Group boosted their price target on shares of Alamos Gold from $23.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.06.

Alamos Gold 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.