Van ECK Associates Corp Sells 2,102,824 Shares of Alamos Gold Inc. (NYSE:AGI)

Van ECK Associates Corp lessened its holdings in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 48,388,265 shares of the basic materials company’s stock after selling 2,102,824 shares during the quarter. Alamos Gold makes up approximately 1.2% of Van ECK Associates Corp’s holdings, making the stock its 14th biggest holding. Van ECK Associates Corp owned about 12.19% of Alamos Gold worth $651,785,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of AGI. Anchor Investment Management LLC acquired a new stake in shares of Alamos Gold in the 4th quarter valued at approximately $27,000. Fifth Third Bancorp acquired a new stake in shares of Alamos Gold in the 4th quarter valued at approximately $96,000. Vanguard Personalized Indexing Management LLC raised its position in shares of Alamos Gold by 14.8% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 12,367 shares of the basic materials company’s stock valued at $140,000 after acquiring an additional 1,596 shares during the period. Keybank National Association OH raised its position in shares of Alamos Gold by 32.4% in the 3rd quarter. Keybank National Association OH now owns 14,859 shares of the basic materials company’s stock valued at $168,000 after acquiring an additional 3,634 shares during the period. Finally, Mcrae Capital Management Inc. acquired a new stake in shares of Alamos Gold in the 4th quarter valued at approximately $174,000. Institutional investors own 64.33% of the company’s stock.

Alamos Gold Trading Up 0.9 %

Shares of NYSE AGI traded up $0.14 during midday trading on Monday, reaching $15.45. The company’s stock had a trading volume of 2,046,303 shares, compared to its average volume of 2,619,616. Alamos Gold Inc. has a fifty-two week low of $10.78 and a fifty-two week high of $16.01. The stock has a market capitalization of $6.15 billion, a price-to-earnings ratio of 29.70, a PEG ratio of 3.81 and a beta of 1.15. The stock has a 50 day simple moving average of $13.79 and a 200-day simple moving average of $13.27.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.13. Alamos Gold had a net margin of 19.41% and a return on equity of 7.38%. The company had revenue of $277.60 million for the quarter, compared to the consensus estimate of $271.15 million. During the same period last year, the company earned $0.12 earnings per share. The firm’s revenue was up 10.4% compared to the same quarter last year. As a group, equities analysts anticipate that Alamos Gold Inc. will post 0.66 EPS for the current year.

Alamos Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $0.025 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.65%. Alamos Gold’s dividend payout ratio (DPR) is presently 19.23%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AGI shares. National Bank Financial reiterated an “outperform overweight” rating on shares of Alamos Gold in a research report on Monday, April 8th. Bank of America upgraded shares of Alamos Gold from a “neutral” rating to a “buy” rating and increased their price target for the company from $21.75 to $27.25 in a research report on Tuesday, April 9th. Royal Bank of Canada raised their target price on shares of Alamos Gold from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Tuesday, April 23rd. Jefferies Financial Group raised their target price on shares of Alamos Gold from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Finally, StockNews.com upgraded shares of Alamos Gold from a “hold” rating to a “buy” rating in a report on Sunday, April 14th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.15.

About Alamos Gold

Alamos Gold Inc engages in the acquisition, exploration, development, and extraction of precious metals in Canada and Mexico. The company primarily explores for gold deposits. It holds 100% interest in the Young-Davidson mine and Island Gold mine located in the Ontario, Canada; Mulatos mine located in the Sonora, Mexico; and Lynn Lake project situated in the Manitoba, Canada.