Skandinaviska Enskilda Banken AB publ Raises Stock Position in Alamos Gold Inc. $AGI

Skandinaviska Enskilda Banken AB publ grew its holdings in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 3,562.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 135,500 shares of the basic materials company’s stock after purchasing an additional 131,800 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Alamos Gold were worth $4,724,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AGI. Pinnacle Wealth Management Group Inc. lifted its holdings in Alamos Gold by 0.5% during the 3rd quarter. Pinnacle Wealth Management Group Inc. now owns 72,121 shares of the basic materials company’s stock worth $2,514,000 after buying an additional 390 shares in the last quarter. Williamson Legacy Group LLC increased its position in shares of Alamos Gold by 0.7% during the second quarter. Williamson Legacy Group LLC now owns 57,228 shares of the basic materials company’s stock worth $1,520,000 after acquiring an additional 400 shares during the period. StoneX Group Inc. raised its stake in shares of Alamos Gold by 1.8% in the second quarter. StoneX Group Inc. now owns 26,083 shares of the basic materials company’s stock valued at $693,000 after acquiring an additional 455 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in Alamos Gold by 0.3% in the third quarter. Allianz Asset Management GmbH now owns 197,376 shares of the basic materials company’s stock valued at $6,881,000 after purchasing an additional 543 shares during the period. Finally, VELA Investment Management LLC boosted its holdings in Alamos Gold by 0.4% in the third quarter. VELA Investment Management LLC now owns 152,985 shares of the basic materials company’s stock valued at $5,333,000 after purchasing an additional 555 shares during the period. Institutional investors and hedge funds own 64.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AGI shares. Weiss Ratings restated a “buy (a)” rating on shares of Alamos Gold in a report on Monday, December 29th. Desjardins started coverage on shares of Alamos Gold in a research note on Friday, November 28th. They set a “buy” rating on the stock. Wall Street Zen downgraded shares of Alamos Gold from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Alamos Gold in a report on Wednesday, February 4th. Finally, Zacks Research downgraded shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $45.50.

Alamos Gold Stock Performance

Shares of Alamos Gold stock opened at $45.86 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.72 and a debt-to-equity ratio of 0.07. Alamos Gold Inc. has a 52 week low of $22.03 and a 52 week high of $46.66. The firm’s 50 day moving average is $40.90 and its two-hundred day moving average is $35.20. The firm has a market capitalization of $19.25 billion, a P/E ratio of 21.84, a P/E/G ratio of 0.41 and a beta of 0.61.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its earnings results on Wednesday, February 18th. The basic materials company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. Alamos Gold had a net margin of 48.97% and a return on equity of 15.46%. The firm had revenue of $575.30 million for the quarter, compared to the consensus estimate of $596.18 million. During the same period last year, the firm posted $0.25 EPS. The company’s revenue was up 53.1% on a year-over-year basis. Research analysts forecast that Alamos Gold Inc. will post 1.29 EPS for the current fiscal year.

Alamos Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Thursday, March 12th. This is an increase from Alamos Gold’s previous quarterly dividend of $0.03. Alamos Gold’s dividend payout ratio (DPR) is presently 7.81%.

Alamos Gold Profile

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.