Alamos Gold Inc. $AGI Position Cut by Gabelli Funds LLC

Gabelli Funds LLC lowered its holdings in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 7.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 845,575 shares of the basic materials company’s stock after selling 72,400 shares during the period. Gabelli Funds LLC owned approximately 0.20% of Alamos Gold worth $29,477,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Alamos Gold by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 17,233,606 shares of the basic materials company’s stock valued at $600,712,000 after acquiring an additional 524,263 shares during the last quarter. PCJ Investment Counsel Ltd. lifted its holdings in 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 worth $2,282,000 after purchasing an additional 23,560 shares during the last quarter. Intact Investment Management Inc. boosted its position in Alamos Gold by 3.8% during the third quarter. Intact Investment Management Inc. now owns 657,696 shares of the basic materials company’s stock worth $22,928,000 after purchasing an additional 24,330 shares during the period. Caldwell Investment Management Ltd. grew its holdings in Alamos Gold by 143.5% during the third quarter. Caldwell Investment Management Ltd. now owns 168,000 shares of the basic materials company’s stock valued at $5,818,000 after purchasing an additional 99,000 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Alamos Gold by 29.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,468,980 shares of the basic materials company’s stock valued at $51,192,000 after purchasing an additional 336,200 shares during the last quarter. Institutional investors and hedge funds own 64.33% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on AGI shares. Desjardins initiated coverage on shares of Alamos Gold in a research note on Friday, November 28th. They issued a “buy” rating for the company. Scotiabank raised their target price on shares of Alamos Gold from $55.00 to $60.00 and gave the company a “sector outperform” rating in a research note on Friday, February 6th. Wall Street Zen downgraded shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 1st. Jefferies Financial Group reissued a “buy” rating and set a $49.00 target price on shares of Alamos Gold in a research report on Sunday, December 7th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Alamos Gold in a report on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Alamos Gold currently has a consensus rating of “Buy” and a consensus target price of $45.50.

Alamos Gold Price Performance

NYSE:AGI opened at $49.82 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 one year low of $22.77 and a one year high of $55.41. The company has a fifty day moving average price of $43.58 and a 200 day moving average price of $37.20. The stock has a market cap of $20.92 billion, a P/E ratio of 23.72, a PEG ratio of 0.67 and a beta of 0.55.

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

Alamos Gold Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be issued a $0.04 dividend. This is a positive change from Alamos Gold’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.16 annualized dividend and a yield of 0.3%. Alamos Gold’s payout ratio is currently 7.62%.

About Alamos Gold

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.