Man Group plc Buys 505,857 Shares of Alamos Gold Inc. (NYSE:AGI)

Man Group plc boosted its stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 942.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 559,511 shares of the basic materials company’s stock after acquiring an additional 505,857 shares during the period. Man Group plc’s holdings in Alamos Gold were worth $10,317,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in shares of Alamos Gold by 155.7% in the fourth quarter. Blue Trust Inc. now owns 1,900 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 1,157 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its stake in Alamos Gold by 51.8% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,510 shares of the basic materials company’s stock worth $46,000 after buying an additional 856 shares in the last quarter. R Squared Ltd bought a new position in Alamos Gold in the 4th quarter valued at about $61,000. Cutler Capital Management LLC acquired a new position in shares of Alamos Gold in the 4th quarter valued at approximately $108,000. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Alamos Gold in the 4th quarter valued at approximately $136,000. 64.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. StockNews.com cut shares of Alamos Gold from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. Scotiabank reaffirmed an “outperform” rating on shares of Alamos Gold in a report on Monday, April 14th. Royal Bank of Canada boosted their price target on Alamos Gold from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, April 4th. National Bank Financial upgraded Alamos Gold to a “strong-buy” rating in a research report on Friday, March 21st. Finally, Bank of America decreased their target price on Alamos Gold from $31.00 to $30.50 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $30.38.

Alamos Gold Trading Down 0.4%

Shares of AGI stock opened at $24.44 on Monday. Alamos Gold Inc. has a twelve month low of $15.01 and a twelve month high of $31.00. The stock’s fifty day simple moving average is $26.67 and its 200 day simple moving average is $22.47. The company has a quick ratio of 0.96, a current ratio of 1.51 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $10.28 billion, a P/E ratio of 35.43, a P/E/G ratio of 0.40 and a beta of 0.60.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). Alamos Gold had a net margin of 21.11% and a return on equity of 10.05%. The firm had revenue of $333.00 million for the quarter, compared to analyst estimates of $324.98 million. During the same period in the previous year, the business posted $0.13 earnings per share. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, sell-side analysts predict that Alamos Gold Inc. will post 1.29 EPS for the current fiscal year.

Alamos Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.41%. The ex-dividend date was Thursday, March 13th. Alamos Gold’s payout ratio is presently 16.13%.

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.