VELA Investment Management LLC Boosts Stake in Alamos Gold Inc. (NYSE:AGI)

VELA Investment Management LLC increased its position in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 6.1% in the 4th quarter, Holdings Channel reports. The firm owned 199,797 shares of the basic materials company’s stock after buying an additional 11,440 shares during the period. Alamos Gold makes up 1.0% of VELA Investment Management LLC’s holdings, making the stock its 20th biggest holding. VELA Investment Management LLC’s holdings in Alamos Gold were worth $3,684,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. CIBC Asset Management Inc lifted its holdings in shares of Alamos Gold by 59.0% in the 4th quarter. CIBC Asset Management Inc now owns 7,726,726 shares of the basic materials company’s stock valued at $142,936,000 after purchasing an additional 2,867,027 shares during the last quarter. FMR LLC increased its position in Alamos Gold by 50.8% in the 3rd quarter. FMR LLC now owns 6,374,543 shares of the basic materials company’s stock valued at $127,027,000 after acquiring an additional 2,148,153 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in Alamos Gold by 19.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,554,082 shares of the basic materials company’s stock valued at $110,662,000 after acquiring an additional 891,255 shares during the period. The Manufacturers Life Insurance Company increased its position in Alamos Gold by 1.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,066,428 shares of the basic materials company’s stock valued at $41,205,000 after acquiring an additional 38,913 shares during the period. Finally, Addenda Capital Inc. acquired a new position in Alamos Gold in the 4th quarter valued at about $34,869,000. 64.33% of the stock is owned by hedge funds and other institutional investors.

Alamos Gold Stock Performance

NYSE AGI opened at $22.64 on Friday. The company has a current ratio of 1.51, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average is $20.58 and its two-hundred day moving average is $19.85. Alamos Gold Inc. has a 12-month low of $11.36 and a 12-month high of $24.27. The stock has a market capitalization of $9.52 billion, a price-to-earnings ratio of 32.81, a PEG ratio of 0.40 and a beta of 1.16.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its earnings results on Wednesday, February 19th. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. Alamos Gold had a return on equity of 10.05% and a net margin of 21.11%. The company had revenue of $375.80 million for the quarter, compared to analysts’ expectations of $388.06 million. Research analysts expect that Alamos Gold Inc. will post 1.29 EPS for the current year.

Alamos Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.44%. Alamos Gold’s payout ratio is 14.49%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AGI shares. National Bank Financial upgraded Alamos Gold from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada boosted their price target on Alamos Gold from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Alamos Gold has a consensus rating of “Buy” and a consensus price target of $26.06.

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 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.