Alamos Gold Inc. $AGI Stock: Beutel Goodman & Co Ltd. Reduces Stake

Beutel Goodman & Co Ltd. trimmed its position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 2.8% during the third quarter, HoldingsChannel.com reports. The firm owned 1,468,239 shares of the basic materials company’s stock after selling 41,996 shares during the period. Beutel Goodman & Co Ltd.’s holdings in Alamos Gold were worth $47,643,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Renaissance Technologies LLC increased its stake in shares of Alamos Gold by 1.8% in the first quarter. Renaissance Technologies LLC now owns 5,118,171 shares of the basic materials company’s stock valued at $227,400,000 after buying an additional 92,227 shares during the period. The Manufacturers Life Insurance Company boosted its position in Alamos Gold by 41.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 4,139,080 shares of the basic materials company’s stock worth $183,963,000 after buying an additional 1,216,977 shares during the period. Amundi boosted its position in Alamos Gold by 6.1% during the 1st quarter. Amundi now owns 3,411,224 shares of the basic materials company’s stock worth $151,561,000 after buying an additional 197,486 shares during the period. Bank of America Corp DE grew its holdings in Alamos Gold by 5.6% during the 1st quarter. Bank of America Corp DE now owns 2,438,796 shares of the basic materials company’s stock worth $108,356,000 after acquiring an additional 128,299 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Alamos Gold by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,679,980 shares of the basic materials company’s stock worth $74,757,000 after acquiring an additional 141,000 shares during the last quarter. 64.33% of the stock is currently owned by institutional investors.

Alamos Gold Stock Performance

Shares of AGI opened at $32.57 on Tuesday. The company has a current ratio of 2.01, a quick ratio of 1.62 and a debt-to-equity ratio of 0.04. The firm’s fifty day simple moving average is $32.95 and its two-hundred day simple moving average is $37.85. Alamos Gold Inc. has a 12 month low of $26.92 and a 12 month high of $55.41. The stock has a market capitalization of $13.63 billion, a P/E ratio of 14.29, a price-to-earnings-growth ratio of 0.48 and a beta of 0.63.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings data on Wednesday, October 28th. The basic materials company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.01). The business had revenue of $510.40 million during the quarter, compared to the consensus estimate of $551.03 million. Alamos Gold had a return on equity of 18.95% and a net margin of 46.66%. During the same period last year, the business posted $0.37 earnings per share. As a group, analysts predict that Alamos Gold Inc. will post 2.09 EPS for the current year.

Alamos Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Thursday, September 10th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $0.16 annualized dividend and a yield of 0.5%. Alamos Gold’s dividend payout ratio (DPR) is currently 6.37%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AGI shares. BMO Capital Markets restated an “outperform” rating on shares of Alamos Gold in a research report on Thursday, October 29th. Wall Street Zen downgraded Alamos Gold from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $42.00 target price on shares of Alamos Gold in a research report on Wednesday, September 16th. Weiss Ratings raised Alamos Gold from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Finally, Zacks Research raised Alamos Gold from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 3rd. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Alamos Gold presently has an average rating of “Moderate Buy” and a consensus price target of $47.50.

About Alamos Gold

Alamos Gold Inc is a Canadian gold producer that explores for, develops and operates gold mines. The company’s operations are concentrated in Canada and Mexico, and it also advances exploration and development projects.

Its operating assets include the Island Gold and Young-Davidson mines in Ontario, the Magino mine in Ontario, and the Mulatos mine in Sonora, Mexico. Alamos produces gold and works to expand its mineral resources through exploration and mine development.

Founded in 2003, Alamos grew through acquisitions, including the additions of Young-Davidson and Island Gold.