Wealth High Governance Asset Management Ltda. Acquires Shares of 119,078 Alamos Gold Inc. $AGI

Wealth High Governance Asset Management Ltda. acquired a new stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 119,078 shares of the basic materials company’s stock, valued at approximately $5,291,000. Alamos Gold makes up approximately 1.9% of Wealth High Governance Asset Management Ltda.’s portfolio, making the stock its 25th largest holding.

Other institutional investors have also bought and sold shares of the company. Goldman Sachs Group Inc. increased its holdings in shares of Alamos Gold by 105.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,394,604 shares of the basic materials company’s stock valued at $64,032,000 after purchasing an additional 1,227,695 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Alamos Gold during the 1st quarter worth $200,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Alamos Gold by 129.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,013,866 shares of the basic materials company’s stock worth $27,111,000 after acquiring an additional 571,536 shares during the period. Qube Research & Technologies Ltd boosted its position in shares of Alamos Gold by 375.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 980,474 shares of the basic materials company’s stock valued at $26,042,000 after acquiring an additional 774,111 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Alamos Gold by 6.9% in the second quarter. Sei Investments Co. now owns 403,217 shares of the basic materials company’s stock valued at $10,709,000 after purchasing an additional 26,045 shares during the period. 64.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wall Street Zen cut shares of Alamos Gold from a “buy” rating to a “hold” rating in a research note on Sunday. Jefferies Financial Group reduced their target price on Alamos Gold from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Scotiabank reissued an “outperform” rating on shares of Alamos Gold in a research report on Tuesday, July 14th. Bank of America reduced their price objective on shares of Alamos Gold from $50.00 to $39.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Alamos Gold in a research note on Saturday, June 20th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $47.50.

Alamos Gold Price Performance

Shares of NYSE AGI opened at $27.83 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.07 and a quick ratio of 1.67. The company has a market cap of $11.65 billion, a price-to-earnings ratio of 10.05, a price-to-earnings-growth ratio of 0.36 and a beta of 0.56. The stock’s 50-day moving average is $32.84 and its two-hundred day moving average is $40.27. Alamos Gold Inc. has a 1-year low of $23.92 and a 1-year high of $55.41.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. Alamos Gold had a return on equity of 19.28% and a net margin of 52.64%.The business had revenue of $594.10 million during the quarter, compared to the consensus estimate of $593.58 million. During the same period in the previous year, the company posted $0.34 earnings per share. The business’s revenue for the quarter was up 35.6% on a year-over-year basis. Analysts forecast that Alamos Gold Inc. will post 2.19 EPS for the current fiscal year.

Alamos Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were paid a $0.04 dividend. The ex-dividend date was Thursday, June 11th. This represents a $0.16 dividend on an annualized basis and a yield of 0.6%. Alamos Gold’s dividend payout ratio (DPR) is currently 5.78%.

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.