Forge First Asset Management Inc. Sells 189,059 Shares of Alamos Gold Inc. $AGI

Forge First Asset Management Inc. lowered its stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 55.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 153,300 shares of the basic materials company’s stock after selling 189,059 shares during the quarter. Alamos Gold comprises 2.5% of Forge First Asset Management Inc.’s portfolio, making the stock its 17th biggest holding. Forge First Asset Management Inc.’s holdings in Alamos Gold were worth $5,343,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. 1620 Investment Advisors Inc. bought a new stake in Alamos Gold during the 3rd quarter worth approximately $35,000. EverSource Wealth Advisors LLC increased its stake in shares of Alamos Gold by 69.6% in 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. Bessemer Group Inc. bought a new stake in shares of Alamos Gold during the 2nd quarter valued at $90,000. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Alamos Gold during the 2nd quarter valued at $98,000. Finally, Employees Retirement System of Texas purchased a new position in shares of Alamos Gold during the 2nd quarter valued at $112,000. 64.33% of the stock is currently owned by institutional investors.

Alamos Gold Stock Performance

NYSE AGI opened at $52.43 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.00 and a quick ratio of 1.60. Alamos Gold Inc. has a 1-year low of $22.03 and a 1-year high of $52.48. The business has a 50 day simple moving average of $42.14 and a two-hundred day simple moving average of $36.03. The stock has a market capitalization of $22.01 billion, a PE ratio of 24.97, a P/E/G ratio of 0.48 and a beta of 0.61.

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 during the quarter, compared to the consensus estimate of $596.18 million. During the same period in the prior year, the company earned $0.25 EPS. The company’s quarterly revenue was up 53.1% compared to the same quarter last year. On average, research analysts predict that Alamos Gold Inc. will post 1.29 EPS for the current fiscal year.

Alamos Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.3%. This is an increase from Alamos Gold’s previous quarterly dividend of $0.03. The ex-dividend date is Thursday, March 12th. Alamos Gold’s dividend payout ratio (DPR) is 4.76%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. TD Securities reiterated a “buy” rating on shares of Alamos Gold in a research note on Monday, November 3rd. Scotiabank increased their target price on Alamos Gold from $55.00 to $60.00 and gave the stock a “sector outperform” rating in a research report on Friday, February 6th. Wall Street Zen raised Alamos Gold from a “hold” rating to a “strong-buy” rating in a report on Saturday, February 21st. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Alamos Gold in a report on Wednesday, February 4th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $49.00 price objective on shares of Alamos Gold in a research report on Sunday, December 7th. Two 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. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $45.50.

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.