Several other research firms have also commented on AGI. Royal Bank of Canada upgraded Alamos Gold from a sector perform rating to an outperform rating and upped their price objective for the stock from $12.00 to $16.00 in a research note on Thursday, January 11th. National Bank Financial restated an outperform overweight rating on shares of Alamos Gold in a research report on Wednesday, January 3rd. Desjardins began coverage on Alamos Gold in a research report on Tuesday, October 24th. They set a hold rating on the stock. Finally, Scotiabank boosted their price objective on Alamos Gold from $14.00 to $15.00 and gave the company an outperform rating in a research note on Friday, October 27th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $15.38.
Alamos Gold Trading Down 1.2 %
Alamos Gold Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.84%. The ex-dividend date was Tuesday, December 5th. Alamos Gold’s dividend payout ratio is currently 19.61%.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp raised its position in shares of Alamos Gold by 7.3% during the second quarter. Van ECK Associates Corp now owns 52,129,570 shares of the basic materials company’s stock valued at $621,383,000 after buying an additional 3,542,008 shares during the last quarter. Vanguard Group Inc. lifted its stake in Alamos Gold by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 14,202,762 shares of the basic materials company’s stock worth $160,349,000 after purchasing an additional 202,396 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Alamos Gold by 6.7% during the 1st quarter. Renaissance Technologies LLC now owns 9,177,531 shares of the basic materials company’s stock valued at $77,275,000 after purchasing an additional 579,511 shares during the last quarter. Norges Bank bought a new position in shares of Alamos Gold during the 4th quarter valued at about $64,117,000. Finally, FMR LLC grew its position in shares of Alamos Gold by 24.3% during the second quarter. FMR LLC now owns 4,411,128 shares of the basic materials company’s stock valued at $30,945,000 after purchasing an additional 863,013 shares in the last quarter. 54.99% of the stock is owned by hedge funds and other institutional investors.
Alamos Gold Company 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.
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