FNY Investment Advisers LLC Buys Shares of 24,650 Alamos Gold Inc. $AGI

FNY Investment Advisers LLC purchased a new position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 24,650 shares of the basic materials company’s stock, valued at approximately $859,000.

Other hedge funds have also made changes to their positions in the company. 1620 Investment Advisors Inc. acquired a new position in Alamos Gold during the 3rd quarter valued at approximately $35,000. EverSource Wealth Advisors LLC lifted its stake in Alamos Gold by 69.6% in the third quarter. EverSource Wealth Advisors LLC now owns 1,416 shares of the basic materials company’s stock valued at $49,000 after buying an additional 581 shares during the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in Alamos Gold in the second quarter valued at $98,000. Employees Retirement System of Texas acquired a new position in shares of Alamos Gold during the second quarter valued at $112,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Alamos Gold by 528.4% during the third quarter. Farther Finance Advisors LLC now owns 4,468 shares of the basic materials company’s stock valued at $156,000 after acquiring an additional 3,757 shares during the period. Institutional investors own 64.33% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $49.00 price objective on shares of Alamos Gold in a report on Sunday, December 7th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a research note on Wednesday, February 4th. Wall Street Zen cut shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 1st. Desjardins initiated coverage on shares of Alamos Gold in a research note on Friday, November 28th. They issued a “buy” rating on the stock. Finally, Weiss Ratings reaffirmed a “buy (a)” rating on shares of Alamos Gold in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Alamos Gold has an average rating of “Buy” and an average target price of $45.50.

Alamos Gold Price Performance

Shares of NYSE AGI opened at $41.88 on Thursday. Alamos Gold Inc. has a fifty-two week low of $23.49 and a fifty-two week high of $55.41. The firm’s 50-day simple moving average is $44.88 and its 200 day simple moving average is $38.25. The company has a quick ratio of 1.60, a current ratio of 2.00 and a debt-to-equity ratio of 0.05. The stock has a market cap of $17.58 billion, a P/E ratio of 19.94, a P/E/G ratio of 0.61 and a beta of 0.55.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its earnings results on Wednesday, February 18th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. The firm had revenue of $575.30 million during the quarter, compared to analyst estimates of $596.18 million. Alamos Gold had a net margin of 48.97% and a return on equity of 14.83%. Alamos Gold’s revenue was up 53.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 EPS. Equities analysts expect that Alamos Gold Inc. will post 1.29 EPS for the current year.

Alamos Gold Increases Dividend

The business also recently disclosed 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 0.4%. This is a boost from Alamos Gold’s previous quarterly dividend of $0.03. The ex-dividend date is Thursday, March 12th. Alamos Gold’s payout ratio is 7.62%.

About Alamos Gold

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.