Foundation Resource Management Inc. Increases Stock Holdings in Alamos Gold Inc. (NYSE:AGI)

Foundation Resource Management Inc. increased its stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 16.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,665 shares of the basic materials company’s stock after buying an additional 5,577 shares during the quarter. Foundation Resource Management Inc.’s holdings in Alamos Gold were worth $461,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. St. Johns Investment Management Company LLC bought a new stake in shares of Alamos Gold during the first quarter worth $49,000. Antonetti Capital Management LLC purchased a new stake in Alamos Gold during the first quarter worth $57,000. Venturi Wealth Management LLC bought a new stake in Alamos Gold during the 1st quarter valued at $71,000. Brown Brothers Harriman & Co. lifted its position in shares of Alamos Gold by 58.8% during the first quarter. Brown Brothers Harriman & Co. now owns 9,901 shares of the basic materials company’s stock valued at $83,000 after buying an additional 3,665 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in shares of Alamos Gold in the 1st quarter valued at about $128,000. 54.99% of the stock is owned by hedge funds and other institutional investors.

Alamos Gold Price Performance

AGI stock traded up $0.02 during trading on Tuesday, hitting $12.65. 1,960,316 shares of the company traded hands, compared to its average volume of 2,936,118. Alamos Gold Inc. has a 1 year low of $6.35 and a 1 year high of $14.12. The company has a market cap of $5.01 billion, a PE ratio of 30.83, a P/E/G ratio of 1.44 and a beta of 1.09. The stock’s 50-day simple moving average is $12.08 and its 200 day simple moving average is $12.21.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.12 by $0.03. The company had revenue of $261.00 million for the quarter, compared to analyst estimates of $251.17 million. Alamos Gold had a net margin of 16.98% and a return on equity of 6.00%. The firm’s revenue was up 36.5% on a year-over-year basis. During the same quarter last year, the business earned $0.07 earnings per share. Research analysts expect that Alamos Gold Inc. will post 0.43 earnings per share for the current year.

Alamos Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, September 14th will be paid a $0.025 dividend. The ex-dividend date is Wednesday, September 13th. This represents a $0.10 dividend on an annualized basis and a yield of 0.79%. Alamos Gold’s dividend payout ratio is currently 24.39%.

Analyst Ratings Changes

AGI has been the topic of several research analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $10.00 target price on shares of Alamos Gold in a research note on Tuesday, August 8th. CSFB dropped their price target on Alamos Gold from $13.00 to $12.50 and set a “neutral” rating on the stock in a research note on Thursday, August 17th. TD Securities upgraded shares of Alamos Gold from a “hold” rating to a “buy” rating in a research note on Friday, July 28th. Finally, StockNews.com initiated coverage on shares of Alamos Gold in a research note on Thursday, August 17th. They set a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $14.70.

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 and silver 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.