Empyrean Capital Partners LP Sells 112,300 Shares of Alamos Gold Inc. $AGI

Empyrean Capital Partners LP reduced its stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 55.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,000 shares of the basic materials company’s stock after selling 112,300 shares during the quarter. Empyrean Capital Partners LP’s holdings in Alamos Gold were worth $4,043,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AGI. Atlantic Union Bankshares Corp acquired a new stake in Alamos Gold in the 4th quarter worth $25,000. Clearstead Advisors LLC raised its holdings in 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 acquiring an additional 251 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Alamos Gold by 44.4% in 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 during the period. Parallel Advisors LLC bought a new position in shares of Alamos Gold during the 1st quarter worth about $35,000. Finally, Bayforest Capital Ltd bought a new position in Alamos Gold during the fourth quarter worth about $44,000. 64.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on AGI. Wall Street Zen upgraded Alamos Gold from a “hold” rating to a “buy” rating in a research note on Saturday. Jefferies Financial Group reduced their target price on shares of Alamos Gold from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. Bank of America lowered their target price on shares of Alamos Gold from $50.00 to $39.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Scotiabank reissued an “outperform” rating on shares of Alamos Gold in a report on Tuesday, July 14th. Finally, Weiss Ratings lowered shares of Alamos Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Alamos Gold has an average rating of “Moderate Buy” and a consensus price target of $47.50.

Alamos Gold Price Performance

Alamos Gold stock opened at $29.69 on Tuesday. The business’s 50-day simple moving average is $33.68 and its 200 day simple moving average is $40.64. The company has a quick ratio of 1.61, a current ratio of 2.01 and a debt-to-equity ratio of 0.05. The stock has a market cap of $12.43 billion, a price-to-earnings ratio of 11.83, a P/E/G ratio of 0.38 and a beta of 0.55. Alamos Gold Inc. has a 12-month low of $23.92 and a 12-month high of $55.41.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. Alamos Gold had a return on equity of 18.03% and a net margin of 51.24%.The firm had revenue of $596.70 million during the quarter, compared to analysts’ expectations of $612.35 million. During the same period in the previous year, the business posted $0.14 EPS. The company’s quarterly revenue was up 79.2% compared to the same quarter last year. As a group, research analysts anticipate that Alamos Gold Inc. will post 2.19 earnings per share for the current year.

Alamos Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, June 11th. Alamos Gold’s payout ratio is 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.