Alamos Gold Inc. $AGI Shares Sold by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. reduced its stake in Alamos Gold Inc. by 1.7%, now owning approximately 0.42% of the company valued at $47.2 million.
• Alamos Gold reported a quarterly EPS of $0.34, exceeding expectations, with revenue increasing 31.7% year-over-year to $438.2 million.
• The company declared a quarterly dividend of $0.025 per share, resulting in an annualized dividend yield of 0.4%, with a payout ratio of 12.05%.

1832 Asset Management L.P. cut its stake in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 1.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,765,948 shares of the basic materials company's stock after selling 31,000 shares during the quarter. 1832 Asset Management L.P. owned about 0.42% of Alamos Gold worth $47,221,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Sunbelt Securities Inc. purchased a new stake in shares of Alamos Gold during the 1st quarter worth $41,000. SBI Securities Co. Ltd. lifted its stake in shares of Alamos Gold by 67.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,645 shares of the basic materials company's stock worth $44,000 after purchasing an additional 660 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Alamos Gold during the 1st quarter worth $68,000. Coppell Advisory Solutions LLC lifted its stake in shares of Alamos Gold by 14.4% during the 4th quarter. Coppell Advisory Solutions LLC now owns 10,011 shares of the basic materials company's stock worth $181,000 after purchasing an additional 1,260 shares during the last quarter. Finally, NBT Bank N A NY purchased a new stake in shares of Alamos Gold during the 1st quarter worth $190,000. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

Alamos Gold Stock Performance

Alamos Gold stock traded up $0.47 during midday trading on Wednesday, hitting $29.77. 3,061,083 shares of the company were exchanged, compared to its average volume of 3,445,047. The firm has a market capitalization of $12.52 billion, a PE ratio of 35.87, a price-to-earnings-growth ratio of 0.62 and a beta of 0.51. Alamos Gold Inc. has a fifty-two week low of $17.42 and a fifty-two week high of $31.00. The business has a fifty day simple moving average of $26.29 and a two-hundred day simple moving average of $25.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.49.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last posted its earnings results on Wednesday, July 30th. The basic materials company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. Alamos Gold had a return on equity of 10.67% and a net margin of 22.99%.The firm had revenue of $438.20 million for the quarter, compared to analyst estimates of $400.61 million. During the same period last year, the company earned $0.24 earnings per share. Alamos Gold's revenue for the quarter was up 31.7% compared to the same quarter last year. On average, sell-side analysts forecast that Alamos Gold Inc. will post 1.29 earnings per share for the current year.

Alamos Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 12th were given a dividend of $0.025 per share. The ex-dividend date was Thursday, June 12th. This represents a $0.10 dividend on an annualized basis and a yield of 0.3%. Alamos Gold's dividend payout ratio (DPR) is presently 12.05%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AGI. National Bankshares restated an "outperform" rating on shares of Alamos Gold in a research note on Tuesday, August 5th. Stifel Canada upgraded Alamos Gold to a "strong-buy" rating in a research note on Tuesday, July 8th. CIBC reiterated an "outperform" rating on shares of Alamos Gold in a research note on Tuesday, July 15th. Wall Street Zen cut Alamos Gold from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, Stifel Nicolaus started coverage on Alamos Gold in a research note on Wednesday, July 9th. They issued a "buy" rating for the company. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $30.38.

About Alamos Gold

Alamos Gold Inc engages in the acquisition, exploration, development, and extraction of precious metals in Canada and Mexico. The company primarily explores for gold deposits. It holds 100% interest in the Young-Davidson mine and Island Gold mine located in the Ontario, Canada; Mulatos mine located in the Sonora, Mexico; and Lynn Lake project situated in the Manitoba, Canada.