Erste Asset Management GmbH Cuts Stake in Alamos Gold Inc. $AGI

Erste Asset Management GmbH cut its holdings in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 68.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 48,500 shares of the basic materials company’s stock after selling 105,300 shares during the quarter. Erste Asset Management GmbH’s holdings in Alamos Gold were worth $1,681,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AGI. Vanguard Group Inc. boosted its position in Alamos Gold by 3.1% during the third quarter. Vanguard Group Inc. now owns 17,233,606 shares of the basic materials company’s stock valued at $600,712,000 after buying an additional 524,263 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of Alamos Gold in the second quarter worth about $1,502,000. PCJ Investment Counsel Ltd. lifted its stake in shares of Alamos Gold by 37.9% in the 2nd quarter. PCJ Investment Counsel Ltd. now owns 85,740 shares of the basic materials company’s stock valued at $2,282,000 after acquiring an additional 23,560 shares during the last quarter. Intact Investment Management Inc. lifted its stake in shares of Alamos Gold by 3.8% in the 3rd quarter. Intact Investment Management Inc. now owns 657,696 shares of the basic materials company’s stock valued at $22,928,000 after acquiring an additional 24,330 shares during the last quarter. Finally, Caldwell Investment Management Ltd. boosted its holdings in Alamos Gold by 143.5% during the 3rd quarter. Caldwell Investment Management Ltd. now owns 168,000 shares of the basic materials company’s stock valued at $5,818,000 after acquiring an additional 99,000 shares during the period. 64.33% of the stock is currently owned by institutional investors.

Alamos Gold Trading Up 3.5%

Shares of AGI opened at $54.27 on Friday. The firm’s 50-day moving average price is $42.45 and its 200-day moving average price is $36.30. The firm has a market capitalization of $22.79 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 0.52 and a beta of 0.61. The company has a current ratio of 2.00, a quick ratio of 1.60 and a debt-to-equity ratio of 0.05. Alamos Gold Inc. has a 1-year low of $22.03 and a 1-year high of $54.37.

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

Alamos Gold Increases Dividend

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

Analyst Ratings Changes

A number of brokerages have commented on AGI. Zacks Research cut Alamos Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Scotiabank raised their target price on shares of Alamos Gold from $55.00 to $60.00 and gave the stock a “sector outperform” rating in a report on Friday, February 6th. Desjardins assumed coverage on shares of Alamos Gold in a report on Friday, November 28th. They set a “buy” rating for the company. Jefferies Financial Group reissued a “buy” rating and issued a $49.00 price target on shares of Alamos Gold in a report on Sunday, December 7th. Finally, Wall Street Zen downgraded shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $45.50.

Alamos Gold 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.