Amova Asset Management Americas Inc. Decreases Position in Alamos Gold Inc. $AGI

Amova Asset Management Americas Inc. trimmed its holdings in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 30.9% in the first quarter, HoldingsChannel.com reports. The firm owned 78,551 shares of the basic materials company’s stock after selling 35,045 shares during the quarter. Amova Asset Management Americas Inc.’s holdings in Alamos Gold were worth $3,491,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AGI. Smartleaf Asset Management LLC raised its holdings in Alamos Gold by 44.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 722 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 222 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in shares of Alamos Gold by 2.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,760 shares of the basic materials company’s stock valued at $454,000 after buying an additional 229 shares in the last quarter. Clearstead Advisors LLC grew its position in shares of Alamos Gold by 62.7% in the 4th quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company’s stock valued at $25,000 after buying an additional 251 shares during the last quarter. Sheets Smith Wealth Management grew its position in shares of Alamos Gold by 1.3% in the 4th quarter. Sheets Smith Wealth Management now owns 20,098 shares of the basic materials company’s stock valued at $775,000 after buying an additional 258 shares during the last quarter. Finally, Private Advisor Group LLC grew its position in shares of Alamos Gold by 3.2% in the 3rd quarter. Private Advisor Group LLC now owns 9,739 shares of the basic materials company’s stock valued at $340,000 after buying an additional 300 shares during the last quarter. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

Alamos Gold Stock Up 4.8%

Shares of NYSE:AGI opened at $29.51 on Wednesday. Alamos Gold Inc. has a 1-year low of $23.92 and a 1-year high of $55.41. 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 stock has a market cap of $12.35 billion, a P/E ratio of 11.76, a P/E/G ratio of 0.36 and a beta of 0.55. The firm has a fifty day moving average price of $34.66 and a 200 day moving average price of $40.91.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $0.54 EPS for the quarter, meeting analysts’ consensus estimates of $0.54. Alamos Gold had a net margin of 51.24% and a return on equity of 18.03%. The company had revenue of $596.70 million for the quarter, compared to analyst estimates of $612.35 million. During the same period in the previous year, the business posted $0.14 earnings per share. Alamos Gold’s quarterly revenue was up 79.2% on a year-over-year basis. Sell-side analysts predict that Alamos Gold Inc. will post 2.19 EPS for the current year.

Alamos Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend 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 currently 6.37%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AGI shares. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a research report on Saturday, June 20th. Weiss Ratings lowered Alamos Gold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Bank of America cut their target price on Alamos Gold from $50.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Wall Street Zen downgraded Alamos Gold from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Finally, Royal Bank Of Canada decreased their target price on Alamos Gold from $52.00 to $42.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

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.