Erste Asset Management GmbH Reduces Position in Alamos Gold Inc. $AGI

Erste Asset Management GmbH decreased its holdings in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 68.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,500 shares of the basic materials company’s stock after selling 105,300 shares during the period. Erste Asset Management GmbH’s holdings in Alamos Gold were worth $1,681,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. 1620 Investment Advisors Inc. bought a new position in Alamos Gold in the 3rd quarter worth approximately $35,000. EverSource Wealth Advisors LLC lifted its position in shares of Alamos Gold by 69.6% during the third quarter. EverSource Wealth Advisors LLC now owns 1,416 shares of the basic materials company’s stock worth $49,000 after acquiring an additional 581 shares in the last quarter. Bessemer Group Inc. bought a new position in shares of Alamos Gold in the second quarter worth $90,000. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Alamos Gold in the second quarter valued at $98,000. Finally, Employees Retirement System of Texas purchased a new position in shares of Alamos Gold in the second quarter valued at $112,000. Institutional investors own 64.33% of the company’s stock.

Analyst Upgrades and Downgrades

AGI has been the subject of several analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $49.00 target price on shares of Alamos Gold in a research note on Sunday, December 7th. Wall Street Zen lowered shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Desjardins began coverage on shares of Alamos Gold in a research note on Friday, November 28th. They set a “buy” rating for the company. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Alamos Gold in a research note on Wednesday, February 4th. Finally, Weiss Ratings reissued a “buy (a)” rating on shares of Alamos Gold in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Alamos Gold presently has a consensus rating of “Buy” and an average price target of $45.50.

Alamos Gold Price Performance

AGI stock opened at $54.27 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 $22.03 and a one year high of $54.37. The stock has a market cap of $22.79 billion, a PE ratio of 25.84, a P/E/G ratio of 0.52 and a beta of 0.61. The firm has a 50 day simple moving average of $42.45 and a two-hundred day simple moving average of $36.30.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.54 earnings per share for the quarter, beating 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 firm had revenue of $575.30 million for the quarter, compared to analysts’ expectations of $596.18 million. During the same quarter last year, the company posted $0.25 EPS. The business’s quarterly revenue was up 53.1% on a year-over-year basis. On average, analysts predict that Alamos Gold Inc. will post 1.29 EPS for the current fiscal 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 paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.3%. This is an increase from Alamos Gold’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Thursday, March 12th. Alamos Gold’s dividend payout ratio is presently 4.76%.

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.