Verition Fund Management LLC Takes $545,000 Position in Alamos Gold Inc. (NYSE:AGI)

Verition Fund Management LLC purchased a new stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 27,331 shares of the basic materials company’s stock, valued at approximately $545,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Murphy Pohlad Asset Management LLC grew its holdings in Alamos Gold by 81.9% in the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 135,870 shares of the basic materials company’s stock valued at $2,130,000 after buying an additional 61,155 shares during the period. Old West Investment Management LLC grew its stake in shares of Alamos Gold by 11.0% during the third quarter. Old West Investment Management LLC now owns 485,892 shares of the basic materials company’s stock valued at $9,689,000 after acquiring an additional 48,128 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co purchased a new stake in Alamos Gold during the 3rd quarter worth approximately $1,196,000. Mackenzie Financial Corp raised its holdings in Alamos Gold by 147.6% in the second quarter. Mackenzie Financial Corp now owns 7,585,450 shares of the basic materials company’s stock valued at $119,003,000 after acquiring an additional 4,521,282 shares in the last quarter. Finally, CWA Asset Management Group LLC bought a new stake in shares of Alamos Gold in the 3rd quarter valued at approximately $793,000. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on AGI shares. Royal Bank of Canada raised their target price on Alamos Gold from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. StockNews.com lowered Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 22nd. National Bank Financial raised shares of Alamos Gold from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, December 3rd. Jefferies Financial Group increased their price objective on Alamos Gold from $23.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Finally, Scotiabank increased their price target on shares of Alamos Gold from $20.00 to $22.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $25.06.

Alamos Gold Price Performance

Shares of AGI opened at $20.39 on Thursday. The business has a 50-day moving average of $19.48 and a 200-day moving average of $18.36. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.62 and a quick ratio of 0.97. The company has a market capitalization of $8.57 billion, a price-to-earnings ratio of 33.98, a price-to-earnings-growth ratio of 0.87 and a beta of 1.15. Alamos Gold Inc. has a 1 year low of $11.24 and a 1 year high of $21.45.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its earnings results on Wednesday, November 6th. The basic materials company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.03). Alamos Gold had a net margin of 19.89% and a return on equity of 8.85%. The business had revenue of $360.90 million for the quarter. As a group, equities research analysts anticipate that Alamos Gold Inc. will post 0.77 earnings per share for the current year.

Alamos Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a $0.025 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.10 annualized dividend and a yield of 0.49%. Alamos Gold’s payout ratio is 16.67%.

About Alamos Gold

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.