Assenagon Asset Management S.A. Acquires New Position in Alamos Gold Inc (AGI)

Assenagon Asset Management S.A. acquired a new stake in shares of Alamos Gold Inc (NYSE:AGI) (TSE:AGI) in the third quarter, HoldingsChannel reports. The fund acquired 305,168 shares of the basic materials company’s stock, valued at approximately $1,407,000.

A number of other hedge funds have also recently bought and sold shares of the business. Van ECK Associates Corp lifted its stake in Alamos Gold by 2.9% during the second quarter. Van ECK Associates Corp now owns 39,650,481 shares of the basic materials company’s stock valued at $225,622,000 after buying an additional 1,118,918 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Alamos Gold by 125.4% during the second quarter. CIBC Asset Management Inc now owns 9,367,625 shares of the basic materials company’s stock valued at $53,380,000 after buying an additional 5,211,004 shares in the last quarter. Tocqueville Asset Management L.P. lifted its stake in Alamos Gold by 1.7% during the second quarter. Tocqueville Asset Management L.P. now owns 7,252,520 shares of the basic materials company’s stock valued at $41,267,000 after buying an additional 120,000 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Alamos Gold by 24.6% during the second quarter. Bank of New York Mellon Corp now owns 6,703,279 shares of the basic materials company’s stock valued at $38,141,000 after buying an additional 1,324,377 shares in the last quarter. Finally, Formula Growth Ltd. lifted its stake in Alamos Gold by 613.0% during the second quarter. Formula Growth Ltd. now owns 4,991,300 shares of the basic materials company’s stock valued at $28,400,000 after buying an additional 4,291,300 shares in the last quarter. 59.32% of the stock is owned by institutional investors.

AGI stock opened at $3.59 on Friday. Alamos Gold Inc has a one year low of $3.58 and a one year high of $7.03. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 1.73 and a beta of 0.34.

The business also recently declared a Semi-Annual dividend, which was paid on Tuesday, October 30th. Stockholders of record on Monday, October 15th were given a $0.01 dividend. The ex-dividend date was Friday, October 12th. Alamos Gold’s dividend payout ratio (DPR) is 16.67%.

A number of research firms have commented on AGI. Raymond James reaffirmed a “buy” rating on shares of Alamos Gold in a research note on Friday, November 2nd. ValuEngine raised shares of Alamos Gold from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 2nd. Zacks Investment Research raised shares of Alamos Gold from a “sell” rating to a “hold” rating in a research note on Friday, September 21st. Finally, CSFB reaffirmed an “outperform” rating and set a $7.50 price objective on shares of Alamos Gold in a research note on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $8.29.

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Alamos Gold Profile

Alamos Gold Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and extraction of gold deposits in North America. It also explores for silver and precious metals. The company holds interests in the Young-Davidson mine, which includes contiguous mineral leases and claims totaling 11,000 acres located in Northern Ontario, Canada; the Mulatos mine located within the Salamandra Concessions in the Sierra Madre Occidental mountain range in the east-central portion of the State of Sonora, Mexico; and the El Chanate mine that comprises 22 mineral concessions covering 4,618 hectares situated in the State of Sonora, Mexico.

Further Reading: Institutional Investors

Want to see what other hedge funds are holding AGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alamos Gold Inc (NYSE:AGI) (TSE:AGI).

Institutional Ownership by Quarter for Alamos Gold (NYSE:AGI)

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