Royal Bank of Canada lessened its stake in Alamos Gold Inc. (NYSE:AGI – Free Report) (TSE:AGI) by 4.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,437,251 shares of the basic materials company’s stock after selling 313,637 shares during the period. Royal Bank of Canada’s holdings in Alamos Gold were worth $330,439,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AGI. Encompass Capital Advisors LLC bought a new stake in shares of Alamos Gold during the first quarter worth approximately $13,332,000. The Manufacturers Life Insurance Company lifted its holdings in Alamos Gold by 41.6% during the first quarter. The Manufacturers Life Insurance Company now owns 4,139,080 shares of the basic materials company’s stock worth $183,963,000 after acquiring an additional 1,216,977 shares in the last quarter. Quantinno Capital Management LP grew its position in shares of Alamos Gold by 220.9% in the 1st quarter. Quantinno Capital Management LP now owns 51,422 shares of the basic materials company’s stock valued at $2,284,000 after purchasing an additional 35,396 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in shares of Alamos Gold in the first quarter valued at approximately $1,366,000. Finally, Themes Management Co LLC increased its holdings in Alamos Gold by 14.3% during the 1st quarter. Themes Management Co LLC now owns 35,993 shares of the basic materials company’s stock worth $1,601,000 after purchasing an additional 4,505 shares in the last quarter. 64.33% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the stock. Jefferies Financial Group decreased their price target on shares of Alamos Gold from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Bank of America dropped their price objective on Alamos Gold from $50.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Wall Street Zen raised shares of Alamos Gold from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Royal Bank Of Canada dropped their price target on Alamos Gold from $52.00 to $42.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Finally, Scotiabank reissued an “outperform” rating on shares of Alamos Gold in a report on Tuesday, July 14th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.
Alamos Gold Price Performance
AGI stock opened at $28.52 on Thursday. Alamos Gold Inc. has a 1 year low of $23.92 and a 1 year high of $55.41. The stock has a market cap of $11.94 billion, a price-to-earnings ratio of 11.36, a P/E/G ratio of 0.37 and a beta of 0.55. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 1.61. The company has a 50 day simple moving average of $33.27 and a 200 day simple moving average of $40.47.
Alamos Gold (NYSE:AGI – Get Free Report) (TSE:AGI) last released its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.07. Alamos Gold had a return on equity of 18.03% and a net margin of 51.24%.The company had revenue of $594.10 million for the quarter, compared to the consensus estimate of $593.58 million. During the same quarter last year, the business posted $0.34 EPS. Alamos Gold’s revenue for the quarter was up 35.6% on a year-over-year basis. Research analysts anticipate that Alamos Gold Inc. will post 2.19 EPS for the current fiscal year.
Alamos Gold Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Thursday, June 11th. Alamos Gold’s payout ratio is 6.37%.
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.
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