Principal Financial Group Inc. Cuts Stake in Alamos Gold Inc. $AGI

Principal Financial Group Inc. trimmed its position in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 7.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,016,670 shares of the basic materials company’s stock after selling 85,000 shares during the period. Principal Financial Group Inc.’s holdings in Alamos Gold were worth $35,445,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. 1620 Investment Advisors Inc. acquired a new stake in shares of Alamos Gold in the third quarter worth approximately $35,000. Ameritas Advisory Services LLC acquired a new stake in shares of Alamos Gold in the second quarter valued at about $30,000. Bessemer Group Inc. purchased a new position in shares of Alamos Gold in the second quarter worth about $90,000. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Alamos Gold in the second quarter worth about $98,000. Finally, Employees Retirement System of Texas acquired a new position in Alamos Gold during the second quarter worth about $112,000. Institutional investors and hedge funds own 64.33% of the company’s stock.

Alamos Gold Trading Down 7.0%

Shares of AGI stock opened at $37.65 on Friday. Alamos Gold Inc. has a 1-year low of $21.95 and a 1-year high of $45.18. The firm has a market cap of $15.81 billion, a PE ratio of 29.41, a price-to-earnings-growth ratio of 0.35 and a beta of 0.61. The company has a 50-day moving average of $39.41 and a two-hundred day moving average of $33.91. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.72 and a quick ratio of 1.33.

Alamos Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were given a $0.025 dividend. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $0.10 dividend on an annualized basis and a yield of 0.3%. Alamos Gold’s payout ratio is presently 7.81%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AGI. TD Securities restated a “buy” rating on shares of Alamos Gold in a report on Monday, November 3rd. CIBC reissued an “outperform” rating on shares of Alamos Gold in a research report on Wednesday. Jefferies Financial Group reissued a “buy” rating and issued a $49.00 price objective on shares of Alamos Gold in a report on Sunday, December 7th. Wall Street Zen downgraded shares of Alamos Gold from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, Zacks Research lowered shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Alamos Gold has a consensus rating of “Buy” and an average target price of $44.25.

Alamos Gold Company 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.