Old West Investment Management LLC Has $16.42 Million Stake in Alamos Gold Inc. $AGI

Old West Investment Management LLC trimmed its position in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 8.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 470,997 shares of the basic materials company’s stock after selling 43,370 shares during the quarter. Alamos Gold comprises approximately 3.8% of Old West Investment Management LLC’s holdings, making the stock its 7th largest position. Old West Investment Management LLC’s holdings in Alamos Gold were worth $16,419,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of AGI. Pinnacle Wealth Management Group Inc. grew its position in shares of Alamos Gold by 0.5% in the third quarter. Pinnacle Wealth Management Group Inc. now owns 72,121 shares of the basic materials company’s stock valued at $2,514,000 after purchasing an additional 390 shares during the last quarter. Williamson Legacy Group LLC lifted its holdings in shares of Alamos Gold by 0.7% during the second quarter. Williamson Legacy Group LLC now owns 57,228 shares of the basic materials company’s stock worth $1,520,000 after buying an additional 400 shares during the last quarter. StoneX Group Inc. grew its stake in shares of Alamos Gold by 1.8% in the second quarter. StoneX Group Inc. now owns 26,083 shares of the basic materials company’s stock worth $693,000 after acquiring an additional 455 shares during the last quarter. Allianz Asset Management GmbH increased its position in Alamos Gold by 0.3% during the third quarter. Allianz Asset Management GmbH now owns 197,376 shares of the basic materials company’s stock worth $6,881,000 after acquiring an additional 543 shares during the period. Finally, VELA Investment Management LLC boosted its holdings in Alamos Gold by 0.4% in the 3rd quarter. VELA Investment Management LLC now owns 152,985 shares of the basic materials company’s stock valued at $5,333,000 after purchasing an additional 555 shares during the period. Institutional investors own 64.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AGI. Scotiabank upped their price objective on shares of Alamos Gold from $55.00 to $60.00 and gave the company a “sector outperform” rating in a research report on Friday. TD Securities reiterated a “buy” rating on shares of Alamos Gold in a research report on Monday, November 3rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $49.00 target price on shares of Alamos Gold in a research report on Sunday, December 7th. Zacks Research downgraded shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Finally, Weiss Ratings reissued a “buy (a)” rating on shares of Alamos Gold in a report on Monday, December 29th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $45.50.

Alamos Gold Price Performance

Shares of AGI opened at $40.19 on Friday. The company has a 50 day moving average of $39.46 and a 200-day moving average of $34.01. The company has a quick ratio of 1.33, a current ratio of 1.72 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $16.87 billion, a P/E ratio of 31.40, a P/E/G ratio of 0.32 and a beta of 0.61. Alamos Gold Inc. has a twelve month low of $21.95 and a twelve month high of $45.18.

Alamos Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were given a $0.025 dividend. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.2%. Alamos Gold’s payout ratio is currently 7.81%.

Alamos Gold Company Profile

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.