Canoe Financial LP Sells 64,343 Shares of Alamos Gold Inc. $AGI

Canoe Financial LP trimmed its position in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 35.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,784 shares of the basic materials company’s stock after selling 64,343 shares during the quarter. Canoe Financial LP’s holdings in Alamos Gold were worth $5,149,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp bought a new position in shares of Alamos Gold in the fourth quarter worth approximately $25,000. Clearstead Advisors LLC raised its position in shares of Alamos Gold by 62.7% during the 4th quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 251 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Alamos Gold by 44.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 722 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 222 shares during the period. Bayforest Capital Ltd purchased a new position in shares of Alamos Gold during the 4th quarter valued at $44,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Alamos Gold by 69.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,416 shares of the basic materials company’s stock worth $49,000 after buying an additional 581 shares during the period. Institutional investors own 64.33% of the company’s stock.

Wall Street Analysts Forecast Growth

AGI has been the topic of a number of recent analyst reports. Bank of America decreased their price target on Alamos Gold from $57.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, June 22nd. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Alamos Gold in a research note on Saturday, June 20th. Weiss Ratings cut Alamos Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Finally, Wall Street Zen downgraded Alamos Gold from a “buy” rating to a “hold” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Alamos Gold has an average rating of “Buy” and a consensus target price of $53.00.

Alamos Gold Price Performance

Shares of NYSE:AGI opened at $31.29 on Monday. The firm has a market cap of $13.12 billion, a price-to-earnings ratio of 12.47, a P/E/G ratio of 0.42 and a beta of 0.49. The firm has a fifty day moving average price of $39.46 and a 200 day moving average price of $41.98. Alamos Gold Inc. has a fifty-two week low of $23.92 and a fifty-two week high of $55.41. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.61 and a current ratio of 2.01.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. The company had revenue of $596.70 million for the quarter, compared to the consensus estimate of $612.35 million. Alamos Gold had a net margin of 51.24% and a return on equity of 18.03%. Alamos Gold’s revenue for the quarter was up 79.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 EPS. As a group, sell-side analysts expect that Alamos Gold Inc. will post 2.38 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were given a dividend of $0.04 per share. The ex-dividend date was Thursday, June 11th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. Alamos Gold’s dividend payout ratio (DPR) is presently 6.37%.

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.