Alamos Gold Inc. $AGI Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC has reduced its stake in Alamos Gold Inc. by 38.6% during the 1st quarter, now holding 12,703 shares valued at approximately $339,000.
• Alamos Gold reported a quarterly earnings of $0.34 EPS, surpassing analysts' expectations, with a revenue of $438.20 million, indicating a 31.7% increase year-over-year.
• The company declared a quarterly dividend of $0.025 per share, representing a 0.3% dividend yield and a payout ratio of 12.05%.

Hsbc Holdings PLC cut its position in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 38.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,703 shares of the basic materials company's stock after selling 7,995 shares during the period. Hsbc Holdings PLC's holdings in Alamos Gold were worth $339,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Murphy Pohlad Asset Management LLC increased its holdings in shares of Alamos Gold by 0.3% in the 1st quarter. Murphy Pohlad Asset Management LLC now owns 159,650 shares of the basic materials company's stock valued at $4,269,000 after acquiring an additional 500 shares during the period. Baird Financial Group Inc. increased its holdings in shares of Alamos Gold by 0.3% in the 4th quarter. Baird Financial Group Inc. now owns 181,611 shares of the basic materials company's stock valued at $3,349,000 after acquiring an additional 614 shares during the period. Cheviot Value Management LLC increased its holdings in shares of Alamos Gold by 1.2% in the 1st quarter. Cheviot Value Management LLC now owns 52,377 shares of the basic materials company's stock valued at $1,346,000 after acquiring an additional 635 shares during the period. SBI Securities Co. Ltd. increased its holdings in shares of Alamos Gold by 67.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,645 shares of the basic materials company's stock valued at $44,000 after acquiring an additional 660 shares during the period. Finally, Brown Advisory Inc. increased its holdings in shares of Alamos Gold by 9.3% in the 1st quarter. Brown Advisory Inc. now owns 11,782 shares of the basic materials company's stock valued at $315,000 after acquiring an additional 1,000 shares during the period. 64.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Alamos Gold Stock Performance

Alamos Gold stock traded up $0.66 during trading hours on Friday, hitting $32.21. 2,933,621 shares of the stock traded hands, compared to its average volume of 3,107,608. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.49 and a quick ratio of 1.00. The firm's 50 day moving average price is $27.05 and its 200-day moving average price is $26.43. The stock has a market capitalization of $13.54 billion, a price-to-earnings ratio of 38.81, a P/E/G ratio of 0.70 and a beta of 0.55. Alamos Gold Inc. has a 1 year low of $17.42 and a 1 year high of $32.50.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last posted its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.01. The business had revenue of $438.20 million for the quarter, compared to the consensus estimate of $400.61 million. Alamos Gold had a return on equity of 10.67% and a net margin of 22.99%.The company's quarterly revenue was up 31.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 EPS. As a group, equities analysts expect that Alamos Gold Inc. will post 1.29 EPS for the current fiscal year.

Alamos Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Thursday, September 11th. Alamos Gold's payout ratio is 12.05%.

Alamos Gold Profile

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.