Oak Ridge Investments LLC Buys Shares of 70,069 Alamos Gold Inc. (NYSE:AGI)

Oak Ridge Investments LLC bought a new stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 70,069 shares of the basic materials company’s stock, valued at approximately $1,397,000.

A number of other hedge funds also recently added to or reduced their stakes in AGI. Baldwin Brothers LLC MA bought a new stake in Alamos Gold in the second quarter valued at $47,000. Daiwa Securities Group Inc. bought a new stake in Alamos Gold in the second quarter valued at $48,000. Employees Retirement System of Texas bought a new stake in shares of Alamos Gold during the second quarter valued at about $88,000. Eastern Bank bought a new stake in shares of Alamos Gold during the third quarter valued at about $111,000. Finally, Coppell Advisory Solutions Corp. acquired a new stake in Alamos Gold in the first quarter worth about $203,000. 64.33% of the stock is currently owned by institutional investors.

Alamos Gold Trading Down 3.7 %

Shares of Alamos Gold stock opened at $20.18 on Friday. The company’s 50-day moving average price is $19.91 and its two-hundred day moving average price is $17.67. Alamos Gold Inc. has a 52 week low of $11.24 and a 52 week high of $21.45. The stock has a market cap of $8.48 billion, a PE ratio of 40.36, a price-to-earnings-growth ratio of 0.86 and a beta of 1.18.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings results 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 firm had revenue of $332.60 million for the quarter, compared to analysts’ expectations of $282.78 million. During the same period in the previous year, the business earned $0.15 earnings per share. Alamos Gold’s revenue for the quarter was up 27.4% compared to the same quarter last year. On average, equities analysts predict that Alamos Gold Inc. will post 0.75 EPS for the current fiscal 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 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 0.50%. Alamos Gold’s payout ratio is presently 20.00%.

Wall Street Analyst Weigh In

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