Alamos Gold Inc. $AGI Position Reduced by Sowell Financial Services LLC

Sowell Financial Services LLC decreased its position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 55.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 24,811 shares of the basic materials company’s stock after selling 30,652 shares during the quarter. Sowell Financial Services LLC’s holdings in Alamos Gold were worth $957,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. bought a new stake in Alamos Gold during the third quarter worth approximately $35,000. EverSource Wealth Advisors LLC raised its holdings in Alamos Gold by 69.6% during the third quarter. EverSource Wealth Advisors LLC now owns 1,416 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 581 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Alamos Gold by 528.4% during the third quarter. Farther Finance Advisors LLC now owns 4,468 shares of the basic materials company’s stock worth $156,000 after purchasing an additional 3,757 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in Alamos Gold by 93.2% during the third quarter. CIBC Private Wealth Group LLC now owns 4,781 shares of the basic materials company’s stock worth $167,000 after purchasing an additional 2,307 shares in the last quarter. Finally, Orion Porfolio Solutions LLC bought a new stake in Alamos Gold during the third quarter worth approximately $205,000. Institutional investors own 64.33% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on AGI. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a report on Wednesday, February 4th. Scotiabank boosted their target price on Alamos Gold from $55.00 to $60.00 and gave the stock a “sector outperform” rating in a report on Friday, February 6th. Weiss Ratings cut Alamos Gold from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, April 2nd. Finally, Wall Street Zen cut Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 1st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $50.67.

Alamos Gold Price Performance

NYSE AGI opened at $47.56 on Thursday. The stock has a market capitalization of $19.97 billion, a P/E ratio of 22.65, a P/E/G ratio of 0.63 and a beta of 0.63. Alamos Gold Inc. has a 1 year low of $23.75 and a 1 year high of $55.41. The business’s fifty day moving average is $45.28 and its two-hundred day moving average is $39.40. 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 (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.05. The company had revenue of $575.30 million for the quarter, compared to analysts’ expectations of $596.18 million. Alamos Gold had a return on equity of 14.83% and a net margin of 48.97%.The firm’s revenue was up 53.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 earnings per share. On average, research analysts forecast 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. Shareholders of record on Thursday, March 12th were issued a $0.04 dividend. This is an increase from Alamos Gold’s previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, March 12th. Alamos Gold’s dividend payout ratio is currently 7.62%.

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.