Allianz SE Sells 10,456 Shares of Alamos Gold Inc. $AGI

Allianz SE decreased its position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 15.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,105 shares of the basic materials company’s stock after selling 10,456 shares during the period. Allianz SE’s holdings in Alamos Gold were worth $1,921,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of AGI. 1620 Investment Advisors Inc. bought a new stake in Alamos Gold during the 3rd quarter worth approximately $35,000. EverSource Wealth Advisors LLC boosted its stake in 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. acquired a new position in Alamos Gold in the second quarter worth $90,000. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Alamos Gold during the second quarter worth $98,000. Finally, Employees Retirement System of Texas acquired a new stake in shares of Alamos Gold in the second quarter valued at $112,000. 64.33% of the stock is owned by institutional investors and hedge funds.

Alamos Gold Price Performance

Alamos Gold stock opened at $54.27 on Friday. The company has a current ratio of 2.00, a quick ratio of 1.60 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $22.79 billion, a P/E ratio of 25.84, a PEG ratio of 0.50 and a beta of 0.61. The business has a 50-day moving average of $42.45 and a 200-day moving average of $36.23. 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 announced its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. Alamos Gold had a net margin of 48.97% and a return on equity of 14.83%. The business had revenue of $575.30 million for the quarter, compared to the consensus estimate of $596.18 million. During the same period last year, the company posted $0.25 EPS. Alamos Gold’s revenue for the quarter was up 53.1% on a year-over-year basis. On average, equities analysts anticipate that Alamos Gold Inc. will post 1.29 EPS for the current year.

Alamos Gold Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. TD Securities reaffirmed a “buy” rating on shares of Alamos Gold in a report on Monday, November 3rd. Scotiabank raised their price objective on shares of Alamos Gold from $55.00 to $60.00 and gave the company a “sector outperform” rating in a research report on Friday, February 6th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Alamos Gold in a research report on Wednesday, February 4th. Jefferies Financial Group reissued a “buy” rating and set a $49.00 price target on shares of Alamos Gold in a research note on Sunday, December 7th. Finally, Desjardins began coverage on shares of Alamos Gold in a report on Friday, November 28th. They issued a “buy” rating for the company. Two investment 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 stock. Based on data from MarketBeat.com, Alamos Gold currently has a consensus rating of “Buy” and an average price target 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.