Addenda Capital Inc. Takes Position in Alamos Gold Inc. (NYSE:AGI)

Addenda Capital Inc. purchased a new stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) in the 4th quarter, HoldingsChannel reports. The firm purchased 1,890,930 shares of the basic materials company’s stock, valued at approximately $34,869,000. Alamos Gold makes up approximately 1.6% of Addenda Capital Inc.’s holdings, making the stock its 19th biggest position.

A number of other hedge funds have also recently added to or reduced their stakes in AGI. Vanguard Personalized Indexing Management LLC increased its stake in shares of Alamos Gold by 18.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,785 shares of the basic materials company’s stock worth $216,000 after purchasing an additional 2,141 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in Alamos Gold by 140.4% in the second quarter. 1832 Asset Management L.P. now owns 1,470,777 shares of the basic materials company’s stock worth $23,062,000 after purchasing an additional 858,977 shares in the last quarter. Epoch Investment Partners Inc. increased its position in Alamos Gold by 120.4% during the second quarter. Epoch Investment Partners Inc. now owns 194,965 shares of the basic materials company’s stock worth $3,057,000 after buying an additional 106,506 shares during the last quarter. Marshall Wace LLP acquired a new position in Alamos Gold during the second quarter worth $267,000. Finally, Progeny 3 Inc. bought a new position in Alamos Gold during the second quarter valued at about $12,546,000. Institutional investors and hedge funds own 64.33% of the company’s stock.

Alamos Gold Stock Performance

AGI opened at $19.54 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.62 and a debt-to-equity ratio of 0.08. The stock’s 50 day moving average price is $18.82 and its two-hundred day moving average price is $18.94. The firm has a market capitalization of $8.21 billion, a P/E ratio of 32.56, a price-to-earnings-growth ratio of 0.59 and a beta of 1.15. Alamos Gold Inc. has a 12-month low of $11.24 and a 12-month high of $21.45.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.03). Alamos Gold had a return on equity of 8.85% and a net margin of 19.89%. The company had revenue of $360.90 million during the quarter. On average, equities analysts forecast that Alamos Gold Inc. will post 0.82 earnings per share for the current year.

Alamos Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Thursday, December 5th. Alamos Gold’s payout ratio is presently 16.67%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AGI. Jefferies Financial Group increased their price objective on Alamos Gold from $23.00 to $28.00 and gave the company a “buy” rating in a report on Friday, October 4th. National Bank Financial upgraded Alamos Gold from a “sector perform” rating to an “outperform” rating in a report on Tuesday, December 3rd. Finally, StockNews.com cut shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 22nd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Alamos Gold presently has a consensus rating of “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.