Alamos Gold Inc. $AGI Shares Sold by Canoe Financial LP

Canoe Financial LP decreased its position in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 25.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 180,127 shares of the basic materials company’s stock after selling 60,373 shares during the period. Canoe Financial LP’s holdings in Alamos Gold were worth $6,956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its holdings in shares of Alamos Gold by 105.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,394,604 shares of the basic materials company’s stock valued at $64,032,000 after purchasing an additional 1,227,695 shares during the period. Empowered Funds LLC purchased a new stake in Alamos Gold in the first quarter valued at approximately $200,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Alamos Gold by 129.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,013,866 shares of the basic materials company’s stock valued at $27,111,000 after buying an additional 571,536 shares during the last quarter. Creative Planning boosted its position in Alamos Gold by 41.2% in the second quarter. Creative Planning now owns 41,326 shares of the basic materials company’s stock valued at $1,098,000 after buying an additional 12,060 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in Alamos Gold by 106.1% in the 2nd quarter. Cetera Investment Advisers now owns 32,935 shares of the basic materials company’s stock worth $874,000 after buying an additional 16,956 shares during the period. Institutional investors and hedge funds own 64.33% of the company’s stock.

Alamos Gold Trading Up 5.4%

Shares of Alamos Gold stock opened at $42.47 on Friday. The firm has a 50-day simple moving average of $44.73 and a two-hundred day simple moving average of $38.67. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.60 and a current ratio of 2.00. Alamos Gold Inc. has a fifty-two week low of $23.49 and a fifty-two week high of $55.41. The company has a market cap of $17.83 billion, a P/E ratio of 20.22, a price-to-earnings-growth ratio of 0.57 and a beta of 0.55.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its earnings results on Wednesday, February 18th. The basic materials company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. Alamos Gold had a return on equity of 14.83% and a net margin of 48.97%.The firm had revenue of $575.30 million for the quarter, compared to analysts’ expectations of $596.18 million. During the same period last year, the firm earned $0.25 EPS. The company’s quarterly revenue was up 53.1% on a year-over-year basis. As a group, equities analysts predict that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Thursday, March 12th were paid a $0.04 dividend. The ex-dividend date of this dividend was Thursday, March 12th. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. This is an increase from Alamos Gold’s previous quarterly dividend of $0.03. Alamos Gold’s dividend payout ratio is 7.62%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wall Street Zen lowered shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 1st. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Alamos Gold in a research note on Wednesday, February 4th. Weiss Ratings reissued a “buy (a)” rating on shares of Alamos Gold in a report on Monday, December 29th. Scotiabank upped their target price on Alamos Gold from $55.00 to $60.00 and gave the stock a “sector outperform” rating in a research note on Friday, February 6th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $49.00 target price on shares of Alamos Gold in a report on Sunday, December 7th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $45.50.

About Alamos Gold

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.