Alamos Gold Inc. $AGI Stock Holdings Lessened by Royal Bank of Canada

Key Points

• Royal Bank of Canada reduced its Alamos Gold stake by 4%, selling 313,637 shares and retaining 7.44 million shares worth approximately $330.4 million. Institutional investors collectively own 64.33% of the company.
• Alamos Gold reported quarterly EPS of $0.59, beating estimates of $0.52, while revenue rose 35.6% year over year to $594.1 million. The company also maintains a quarterly dividend of $0.04 per share.
• AGI recently traded at $28.52, well below its 52-week high of $55.41, but analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $47.50.

Royal Bank of Canada lowered its holdings in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 4.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,437,251 shares of the basic materials company's stock after selling 313,637 shares during the period. Royal Bank of Canada owned about 1.77% of Alamos Gold worth $330,439,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AGI. Vanguard Group Inc. boosted its stake in Alamos Gold by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 17,565,941 shares of the basic materials company's stock valued at $678,291,000 after purchasing an additional 332,335 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Alamos Gold by 11.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 9,095,054 shares of the basic materials company's stock valued at $351,072,000 after buying an additional 964,317 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Alamos Gold by 6.3% during the 4th quarter. CIBC Asset Management Inc now owns 8,716,153 shares of the basic materials company's stock valued at $338,372,000 after purchasing an additional 514,819 shares in the last quarter. Norges Bank bought a new stake in Alamos Gold during the fourth quarter worth approximately $219,475,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Alamos Gold by 1.8% in the 1st quarter. Renaissance Technologies LLC now owns 5,118,171 shares of the basic materials company's stock worth $227,400,000 after acquiring an additional 92,227 shares during the last quarter. Institutional investors and hedge funds own 64.33% of the company's stock.

Alamos Gold Stock Down 0.9%

AGI opened at $28.52 on Thursday. The company has a market capitalization of $11.94 billion, a P/E ratio of 11.36, a P/E/G ratio of 0.37 and a beta of 0.55. The firm's fifty day moving average price is $33.27 and its two-hundred day moving average price is $40.47. Alamos Gold Inc. has a fifty-two week low of $23.92 and a fifty-two week high of $55.41. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 1.61.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last posted its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.07. Alamos Gold had a net margin of 51.24% and a return on equity of 18.03%. The firm had revenue of $594.10 million during the quarter, compared to analyst estimates of $593.58 million. During the same quarter in the prior year, the business posted $0.34 earnings per share. The company's quarterly revenue was up 35.6% compared to the same quarter last year. On average, analysts anticipate that Alamos Gold Inc. will post 2.19 EPS for the current year.

Alamos Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were given a dividend of $0.04 per share. The ex-dividend date was Thursday, June 11th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.6%. Alamos Gold's dividend payout ratio (DPR) is 6.37%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AGI shares. Bank of America dropped their target price on shares of Alamos Gold from $50.00 to $39.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Royal Bank Of Canada cut their price target on Alamos Gold from $52.00 to $42.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. Jefferies Financial Group cut 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. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Alamos Gold in a report on Saturday, June 20th. Finally, Weiss Ratings cut shares of Alamos Gold from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, July 23rd. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.50.

Alamos Gold Profile

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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