56,011 Alamos Gold Inc. $AGI Shares Acquired by McAlvany Wealth Management LLC

McAlvany Wealth Management LLC raised its holdings in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 47.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 173,849 shares of the basic materials company’s stock after purchasing an additional 56,011 shares during the quarter. Alamos Gold accounts for about 2.8% of McAlvany Wealth Management LLC’s portfolio, making the stock its 10th largest position. McAlvany Wealth Management LLC’s holdings in Alamos Gold were worth $5,631,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Trek Financial LLC bought a new position in shares of Alamos Gold during the third quarter valued at approximately $13,107,000. Accordant Advisory Group Inc raised its holdings in shares of Alamos Gold by 25.1% in the third quarter. Accordant Advisory Group Inc now owns 140,967 shares of the basic materials company’s stock worth $4,566,000 after buying an additional 28,271 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Alamos Gold by 6.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 96,818 shares of the basic materials company’s stock worth $3,136,000 after acquiring an additional 5,823 shares during the last quarter. Vise Technologies Inc. bought a new stake in shares of Alamos Gold during the 3rd quarter worth approximately $410,000. Finally, Kingswood Wealth Advisors LLC bought a new stake in shares of Alamos Gold during the 3rd quarter worth approximately $269,000. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AGI shares. Wall Street Zen cut Alamos Gold from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Weiss Ratings upgraded Alamos Gold from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. BMO Capital Markets reiterated an “outperform” rating on shares of Alamos Gold in a research note on Thursday. Bank of America decreased their target price on Alamos Gold from $50.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Finally, Jefferies Financial Group lowered their target price on shares of Alamos Gold from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alamos Gold has an average rating of “Moderate Buy” and a consensus target price of $47.50.

Alamos Gold Price Performance

Shares of AGI stock opened at $27.72 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.07 and a quick ratio of 1.67. The company has a market capitalization of $11.60 billion, a P/E ratio of 15.08, a P/E/G ratio of 0.49 and a beta of 0.59. The company’s 50-day simple moving average is $33.69 and its two-hundred day simple moving average is $38.10. Alamos Gold Inc. has a one year low of $26.92 and a one year high of $55.41.

Alamos Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Thursday, September 10th were issued a $0.04 dividend. The ex-dividend date was Thursday, September 10th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.6%. Alamos Gold’s payout ratio is presently 6.37%.

Alamos Gold Company Profile

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of gold mines. The company produces gold doré and concentrate from its mining operations and also evaluates opportunities to expand existing assets and develop new projects.

Alamos Gold’s principal operations are located in Ontario, Canada, including the Young-Davidson underground mine and the Island Gold underground mine. The company also operates the Magino open-pit mine in Ontario, which became part of its portfolio through the acquisition of Argonaut Gold.