Barclays PLC, a multinational investment bank and financial services company, has increased its stake in Alamos Gold Inc. during the first quarter of this year. According to its most recent Form 13F filing with the Securities and Exchange Commission (SEC), Barclays PLC now holds 67,382 shares of Alamos Gold’s stock, representing a growth of 42.8% from its previous position. The acquisition of an additional 20,200 shares brings the total value of Barclays PLC’s holdings in Alamos Gold to $824,000 as of the filing date.
Alamos Gold is a basic materials company listed on both the New York Stock Exchange (NYSE: AGI) and Toronto Stock Exchange (TSE: AGI). On Thursday, July 27th, the company released its earnings results for the quarter. Surpassing analyst expectations, Alamos Gold reported earnings per share (EPS) of $0.15 for the quarter, exceeding estimates by $0.03.
The company also demonstrated a strong net margin of 16.98% and a return on equity (ROE) of 6.00%. Additionally, Alamos Gold generated revenue amounting to $261.00 million during the quarter, surpassing consensus estimates which projected revenue at $251.17 million. This represents a significant increase of 36.5% compared to the same period last year when it posted earnings per share of $0.07.
Looking ahead to the current fiscal year, research analysts anticipate that Alamos Gold Inc.’s EPS will stand at approximately $0.43.
This positive growth and performance have captured investors’ attention and generated interest in Alamos Gold’s stock as evidenced by Barclays PLC’s increased position in the company during the first quarter.
Please see our latest stock report on AGI for further analysis and insights into Alamos Gold Inc.’s performance in the market.
(Reference date: August 24, 2023)
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Recent Hedge Fund Activity and Analyst Outlook for Alamos Gold Inc.
In recent months, several hedge funds have made adjustments to their holdings of Alamos Gold, a prominent company in the basic materials industry. Moody National Bank Trust Division, for example, increased its position in the company by 17.0% during the first quarter. This resulted in the acquisition of an additional 8,093 shares, bringing Moody National Bank Trust Division’s total ownership to 55,644 shares with a value of $681,000.
Similarly, RiverGlades Family Offices LLC entered the picture as a new stakeholder in Alamos Gold during the fourth quarter. The firm acquired a stake worth $182,000, demonstrating its confidence in the company’s potential for growth.
Intact Investment Management Inc., another investor looking to capitalize on Alamos Gold’s success, purchased a new position valued at $2,650,000 during the fourth quarter as well.
National Bank of Canada FI also demonstrated its faith in Alamos Gold by lifting its position by 31.1% during the first quarter. This significant increase amounts to an additional 355,392 shares and raises National Bank of Canada FI’s total ownership to 1,499,316 shares valued at $18,317,000.
Lastly,Oxbow Advisors LLC decided to increase its holdings by 23.0% during the first quarter. This move resulted in Oxbow Advisors acquiring an additional 13,500 shares with a value of $884,000.
These institutional investors and hedge funds now collectively own close to two-thirds (63.16%) of Alamos Gold’s stock.
On Thursday morning, Alamos Gold started trading at $12.09 per share. With a market capitalization of $4.79 billion and a price-to-earnings ratio standing at 29.49,the company appears to be effectively positioned within its industry.The PEG ratio of 1.32 suggests that Alamos Gold is fairly priced in relation to its earnings growth potential, while the beta value of 1.07 indicates that the stock could potentially be less volatile than the broader market.
In terms of recent performance, Alamos Gold has experienced a relatively stable 50-day moving average of $11.93 and a 200-day moving average of $11.96.These figures suggest that investors have maintained their confidence in the company, reinforcing its stability in the market.
Furthermore, Alamos Gold recently announced its quarterly dividend payment. Shareholders recorded as of June 15th received a $0.025 dividend on Thursday, June 29th. This represents an annualized dividend of $0.10 and displays a yield of 0.83%. With a payout ratio of 24.39%, Alamos Gold is allocating a reasonable portion of its earnings towards rewarding its shareholders.
Various research analyst reports have been released regarding AGI’s performance and prospects.TD Securities upgraded their rating for Alamos Gold from “hold” to “buy” in July.Another independent analysis from StockNews.com also rated Alamos Gold as a “buy.”Meanwhile, CSFB downgraded their target price for the stock but maintained a neutral rating.Royal Bank of Canada reaffirmed their sector perform rating and issued a price target at $10.00.Finally, Laurentian revised their recommendation to hold from buy in late April.Consequently, with an average rating of “Hold” and an average price target set at $14.70 according to Bloomberg.com data,it appears that analysts are somewhat divided on Alamos Gold’s future trajectory.
As we approach the end of August 2023,the investment community continues to monitor and evaluate developments related to Alamos Gold Inc.To date,it has proven itself resilient amidst industry fluctuations,and investors’ appetite remains cautiously optimistic.It will be interesting to observe how this situation evolves over time,determining if these holdings will continue to outperform or face challenges within the volatile market.
