Generate Investment Management Ltd Makes New Investment in Alamos Gold Inc. (NYSE:AGI)

Generate Investment Management Ltd acquired a new stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 370,871 shares of the basic materials company’s stock, valued at approximately $7,395,000.

A number of other institutional investors and hedge funds have also bought and sold shares of AGI. Mackenzie Financial Corp increased its position in Alamos Gold by 147.6% during the second quarter. Mackenzie Financial Corp now owns 7,585,450 shares of the basic materials company’s stock worth $119,003,000 after acquiring an additional 4,521,282 shares during the period. Van ECK Associates Corp increased its holdings in Alamos Gold by 8.3% in the 1st quarter. Van ECK Associates Corp now owns 52,397,485 shares of the basic materials company’s stock worth $772,863,000 after purchasing an additional 4,009,220 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Alamos Gold by 71.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,581 shares of the basic materials company’s stock valued at $97,183,000 after buying an additional 2,756,759 shares during the period. CIBC Asset Management Inc increased its position in Alamos Gold by 311.9% in the 2nd quarter. CIBC Asset Management Inc now owns 2,709,784 shares of the basic materials company’s stock valued at $42,480,000 after acquiring an additional 2,051,935 shares during the period. Finally, Triasima Portfolio Management inc. increased its holdings in Alamos Gold by 328.2% in the second quarter. Triasima Portfolio Management inc. now owns 1,389,027 shares of the basic materials company’s stock valued at $21,779,000 after purchasing an additional 1,064,629 shares during the period. Institutional investors and hedge funds own 64.33% of the company’s stock.

Alamos Gold Price Performance

Shares of NYSE:AGI opened at $20.99 on Friday. Alamos Gold Inc. has a one year low of $11.24 and a one year high of $21.42. The company has a market cap of $8.38 billion, a price-to-earnings ratio of 40.37, a PEG ratio of 0.86 and a beta of 1.18. The firm has a fifty day moving average price of $19.59 and a two-hundred day moving average price of $17.30.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. Alamos Gold had a return on equity of 8.52% and a net margin of 17.73%. The business had revenue of $332.60 million during the quarter, compared to analyst estimates of $282.78 million. During the same quarter in the prior year, the firm earned $0.15 earnings per share. Alamos Gold’s revenue for the quarter was up 27.4% on a year-over-year basis. Equities research analysts expect that Alamos Gold Inc. will post 0.75 EPS for the current fiscal year.

Alamos Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Thursday, September 12th. Alamos Gold’s dividend payout ratio is presently 19.23%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. National Bank Financial lowered shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a report on Sunday, September 8th. Scotiabank upped their price target on Alamos Gold from $20.00 to $22.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Jefferies Financial Group upped their price objective on shares of Alamos Gold from $23.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, October 4th. 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 report on Tuesday, September 10th. Finally, StockNews.com raised shares of Alamos Gold from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 14th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $25.06.

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.