41,996 Alamos Gold Inc. $AGI Shares Sold by Beutel Goodman & Co Ltd.

Key Points

• Beutel Goodman cut its Alamos Gold stake by 2.8% in the third quarter, selling 41,996 shares. It retained 1,468,239 shares, valued at about $47.6 million.
• Analysts have a “Moderate Buy” consensus on AGI, with a $47.50 consensus price target; eight analysts rate it Buy and one rates it Hold.
• Alamos Gold’s latest quarterly results fell short of estimates: EPS was $0.44 versus $0.45 expected, and revenue was $510.4 million versus $551.03 million expected.

Beutel Goodman & Co Ltd. trimmed its position in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 2.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,468,239 shares of the basic materials company's stock after selling 41,996 shares during the quarter. Beutel Goodman & Co Ltd. owned approximately 0.35% of Alamos Gold worth $47,643,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Swiss National Bank increased its holdings in shares of Alamos Gold by 26.8% in the first quarter. Swiss National Bank now owns 1,413,236 shares of the basic materials company's stock valued at $62,782,000 after purchasing an additional 298,900 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Alamos Gold by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,679,980 shares of the basic materials company's stock valued at $74,757,000 after purchasing an additional 141,000 shares during the period. DJE Kapital AG raised its position in shares of Alamos Gold by 66.2% in the first quarter. DJE Kapital AG now owns 296,236 shares of the basic materials company's stock valued at $12,665,000 after purchasing an additional 118,006 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of 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 last quarter. Finally, Encompass Capital Advisors LLC acquired a new stake in shares of Alamos Gold during the 1st quarter worth about $13,332,000. 64.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AGI. BMO Capital Markets reissued an "outperform" rating on shares of Alamos Gold in a report on Thursday, October 29th. Zacks Research raised Alamos Gold from a "strong sell" rating to a "hold" rating in a research report on Tuesday, November 3rd. Scotiabank reiterated an "outperform" rating on shares of Alamos Gold in a research note on Tuesday, July 14th. Wall Street Zen cut Alamos Gold from a "buy" rating to a "hold" rating in a report on Sunday, August 2nd. Finally, Weiss Ratings upgraded Alamos Gold from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.50.

Alamos Gold Stock Performance

Shares of Alamos Gold stock opened at $32.57 on Tuesday. The company has a 50 day moving average of $32.95 and a 200-day moving average of $37.85. Alamos Gold Inc. has a 1-year low of $26.92 and a 1-year high of $55.41. 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 company has a market cap of $13.63 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 0.48 and a beta of 0.63.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last released 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 analyst estimates of $551.03 million. Alamos Gold had a net margin of 46.66% and a return on equity of 18.95%. During the same period last year, the business earned $0.37 earnings per share. As a group, equities research analysts forecast that Alamos Gold Inc. will post 2.09 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Thursday, September 10th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Thursday, September 10th. Alamos Gold's dividend payout ratio is currently 6.37%.

Alamos Gold Company Profile

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.

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