Alamos Gold Inc. $AGI Shares Sold by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC cut its Alamos Gold stake by 15.6% in the first quarter, selling 104,500 shares and leaving it with 566,275 shares worth about $25.16 million.
• Alamos Gold reported solid quarterly results, with EPS of $0.54 matching analyst estimates and revenue up 79.2% year over year to $596.7 million, though revenue came in slightly below expectations.
• Analysts remain generally upbeat on the stock, with nine Buy ratings and two Hold ratings, giving it a consensus “Moderate Buy” and an average price target of $47.50.

Gabelli Funds LLC lowered its holdings in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 15.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 566,275 shares of the basic materials company's stock after selling 104,500 shares during the period. Gabelli Funds LLC owned 0.13% of Alamos Gold worth $25,160,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Hilltop Holdings Inc. boosted its stake in Alamos Gold by 15.7% in the 1st quarter. Hilltop Holdings Inc. now owns 11,083 shares of the basic materials company's stock worth $492,000 after buying an additional 1,500 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in Alamos Gold by 1.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 70,845 shares of the basic materials company's stock valued at $3,145,000 after buying an additional 1,286 shares during the period. State of Wyoming increased its stake in shares of Alamos Gold by 169.4% during the 1st quarter. State of Wyoming now owns 4,944 shares of the basic materials company's stock valued at $220,000 after acquiring an additional 3,109 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of Alamos Gold by 14.7% during the 1st quarter. Cetera Investment Advisers now owns 23,125 shares of the basic materials company's stock valued at $1,026,000 after acquiring an additional 2,972 shares during the last quarter. Finally, Petra Financial Advisors Inc. lifted its holdings in shares of Alamos Gold by 2.3% during the 1st quarter. Petra Financial Advisors Inc. now owns 23,153 shares of the basic materials company's stock worth $1,029,000 after acquiring an additional 518 shares during the period. 64.33% of the stock is currently owned by institutional investors and hedge funds.

Alamos Gold Stock Up 0.7%

AGI opened at $29.59 on Friday. Alamos Gold Inc. has a 1 year low of $23.92 and a 1 year high of $55.41. The firm has a 50 day moving average price of $33.90 and a 200 day moving average price of $40.71. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.61 and a current ratio of 2.01. The company has a market cap of $12.39 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 0.38 and a beta of 0.55.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last announced its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share for the quarter, meeting analysts' consensus estimates of $0.54. Alamos Gold had a net margin of 51.24% and a return on equity of 18.03%. The firm had revenue of $596.70 million for the quarter, compared to analysts' expectations of $612.35 million. During the same period in the previous year, the company posted $0.14 earnings per share. Alamos Gold's revenue was up 79.2% compared to the same quarter last year. Sell-side analysts expect that Alamos Gold Inc. will post 2.19 earnings per share for the current year.

Alamos Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, June 11th. Alamos Gold's dividend payout ratio (DPR) is currently 6.37%.

Analyst Ratings Changes

AGI has been the subject of a number of recent analyst reports. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Alamos Gold in a report on Saturday, June 20th. Wall Street Zen raised shares of Alamos Gold from a "hold" rating to a "buy" rating in a research note on Saturday. Jefferies Financial Group decreased their price target on shares of Alamos Gold from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Monday, July 6th. Bank of America lowered their price objective on shares of Alamos Gold from $50.00 to $39.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Finally, Scotiabank restated an "outperform" rating on shares of Alamos Gold in a report on Tuesday, July 14th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Alamos Gold currently has a consensus rating of "Moderate Buy" and an average target price of $47.50.

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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