Royce & Associates LP Sells 191,000 Shares of Alamos Gold Inc. $AGI

Royce & Associates LP cut its position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 13.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,274,091 shares of the basic materials company’s stock after selling 191,000 shares during the period. Royce & Associates LP’s holdings in Alamos Gold were worth $44,411,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. 1620 Investment Advisors Inc. acquired a new position in Alamos Gold during the third quarter worth approximately $35,000. EverSource Wealth Advisors LLC boosted its stake in shares of Alamos Gold by 69.6% during the 3rd 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 during the period. Bessemer Group Inc. bought a new position in shares of Alamos Gold during the 2nd quarter worth approximately $90,000. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Alamos Gold during the 2nd quarter worth approximately $98,000. Finally, Employees Retirement System of Texas bought a new stake in Alamos Gold in the 2nd quarter valued at $112,000. 64.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AGI has been the subject of a number of research analyst reports. Desjardins initiated coverage on shares of Alamos Gold in a research report on Friday, November 28th. They set a “buy” rating for the company. TD Securities reaffirmed a “buy” rating on shares of Alamos Gold in a report on Monday, November 3rd. Wall Street Zen cut shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday. Weiss Ratings restated a “buy (a)” rating on shares of Alamos Gold in a research report on Monday, December 29th. Finally, Scotiabank upped their target price on Alamos Gold from $55.00 to $60.00 and gave the company a “sector outperform” rating in a research report on Friday, February 6th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Alamos Gold presently has an average rating of “Buy” and a consensus target price of $45.50.

Alamos Gold Stock Performance

NYSE AGI opened at $54.27 on Friday. Alamos Gold Inc. has a 12-month low of $22.03 and a 12-month high of $54.37. The firm has a 50-day moving average price of $42.45 and a two-hundred day moving average price of $36.30. The company has a market capitalization of $22.79 billion, a P/E ratio of 25.84, a P/E/G ratio of 0.52 and a beta of 0.61. The company has a quick ratio of 1.60, a current ratio of 2.00 and a debt-to-equity ratio of 0.05.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.05. Alamos Gold had a return on equity of 14.83% and a net margin of 48.97%.The company had revenue of $575.30 million for the quarter, compared to analysts’ expectations of $596.18 million. During the same quarter last year, the business earned $0.25 earnings per share. Alamos Gold’s revenue was up 53.1% on a year-over-year basis. Analysts anticipate that Alamos Gold Inc. will post 1.29 earnings per share for the current year.

Alamos Gold Increases Dividend

The firm also recently announced 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. The ex-dividend date is Thursday, March 12th. This is a boost from Alamos Gold’s previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a yield of 0.3%. Alamos Gold’s dividend payout ratio is currently 4.76%.

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.