Alamos Gold Inc. $AGI Shares Sold by Addenda Capital Inc.

Key Points

• Addenda Capital trimmed its stake in Alamos Gold by 2.1% in Q4, selling 48,214 shares and leaving it with 2,226,649 shares (about 0.53% of the company and 3.1% of Addenda's portfolio), a position valued at roughly $85.9 million.
• Alamos reported Q4 EPS of $0.54, beating estimates by $0.05, while revenue rose 53.1% year-over-year to $575.3 million but slightly missed analyst expectations.
• The company boosted its quarterly dividend to $0.04 (annualized $0.16, yield 0.3%), and Wall Street consensus remains a Buy with an average target price of $50.67 (some banks raising targets up to $60).

Addenda Capital Inc. trimmed its stake in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,226,649 shares of the basic materials company's stock after selling 48,214 shares during the period. Alamos Gold comprises about 3.1% of Addenda Capital Inc.'s investment portfolio, making the stock its 7th largest position. Addenda Capital Inc. owned 0.53% of Alamos Gold worth $85,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Alamos Gold by 3.1% during the third quarter. Vanguard Group Inc. now owns 17,233,606 shares of the basic materials company's stock worth $600,712,000 after purchasing an additional 524,263 shares during the last quarter. Intact Investment Management Inc. grew its holdings in shares of Alamos Gold by 3.8% during the third quarter. Intact Investment Management Inc. now owns 657,696 shares of the basic materials company's stock worth $22,928,000 after purchasing an additional 24,330 shares during the last quarter. Caldwell Investment Management Ltd. grew its holdings in shares of Alamos Gold by 143.5% during the third quarter. Caldwell Investment Management Ltd. now owns 168,000 shares of the basic materials company's stock worth $5,818,000 after purchasing an additional 99,000 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Alamos Gold by 29.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,468,980 shares of the basic materials company's stock worth $51,192,000 after purchasing an additional 336,200 shares during the last quarter. Finally, SBI Securities Co. Ltd. grew its holdings in shares of Alamos Gold by 2,652.7% during the third quarter. SBI Securities Co. Ltd. now owns 55,411 shares of the basic materials company's stock worth $1,932,000 after purchasing an additional 53,398 shares during the last quarter. 64.33% of the stock is currently owned by institutional investors.

Alamos Gold Trading Up 2.3%

NYSE:AGI opened at $47.56 on Thursday. Alamos Gold Inc. has a fifty-two week low of $23.75 and a fifty-two week high of $55.41. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.00 and a quick ratio of 1.60. The stock has a market capitalization of $19.97 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 0.63 and a beta of 0.63. The business's 50-day simple moving average is $45.28 and its 200-day simple moving average is $39.40.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last issued its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.05. Alamos Gold had a return on equity of 14.83% and a net margin of 48.97%.The business had revenue of $575.30 million during the quarter, compared to analyst estimates of $596.18 million. During the same period in the previous year, the firm earned $0.25 EPS. Alamos Gold's quarterly revenue was up 53.1% compared to the same quarter last year. Sell-side analysts expect that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Thursday, March 12th were given a $0.04 dividend. The ex-dividend date was Thursday, March 12th. This represents a $0.16 annualized dividend and a dividend yield of 0.3%. This is a boost from Alamos Gold's previous quarterly dividend of $0.03. Alamos Gold's payout ratio is presently 7.62%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Alamos Gold in a report on Wednesday, February 4th. Scotiabank raised their price target on Alamos Gold from $55.00 to $60.00 and gave the company a "sector outperform" rating in a report on Friday, February 6th. Wall Street Zen cut Alamos Gold from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 1st. Finally, Weiss Ratings cut Alamos Gold from a "buy (a-)" rating to a "buy (b+)" rating in a report on Thursday, April 2nd. One equities research analyst has 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.com, the stock presently has a consensus rating of "Buy" and an average target price of $50.67.

About Alamos Gold

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.

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