Alamos Gold Inc. $AGI Stock Sold by NewEdge Advisors LLC

Key Points

• NewEdge Advisors sharply reduced its Alamos Gold position by 97.6% in the second quarter, selling 47,264 shares and retaining just 1,144 shares valued at approximately $35,000.
• Institutional ownership remains significant at 64.33%, with several major investors—including Manufacturers Life Insurance, Arrowstreet Capital, and Bank of New York Mellon— increasing their stakes.
• Analysts maintain a broadly positive outlook, with seven Buy ratings and two Hold ratings producing a “Moderate Buy” consensus and an average price target of $47.50. Alamos also reported quarterly EPS of $0.59, ahead of estimates, while revenue rose 35.6% year over year.

NewEdge Advisors LLC decreased its position in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 97.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,144 shares of the basic materials company's stock after selling 47,264 shares during the period. NewEdge Advisors LLC's holdings in Alamos Gold were worth $35,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its stake in Alamos Gold by 41.6% in the first quarter. The Manufacturers Life Insurance Company now owns 4,139,080 shares of the basic materials company's stock worth $183,963,000 after purchasing an additional 1,216,977 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of 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 during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Alamos Gold by 74.2% during the fourth quarter. Bank of New York Mellon Corp now owns 1,809,382 shares of the basic materials company's stock valued at $69,806,000 after buying an additional 770,569 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Alamos Gold in the fourth quarter worth approximately $21,219,000. Finally, Bradley Foster & Sargent Inc. CT raised its holdings in shares of Alamos Gold by 52.2% in the first quarter. Bradley Foster & Sargent Inc. CT now owns 1,026,135 shares of the basic materials company's stock worth $45,591,000 after buying an additional 351,713 shares during the period. Hedge funds and other institutional investors own 64.33% of the company's stock.

Wall Street Analysts Forecast Growth

AGI has been the subject of a number of recent analyst reports. Jefferies Financial Group dropped their price objective on Alamos Gold from $50.00 to $49.00 and set a "buy" rating for the company in a report on Monday, July 6th. Wall Street Zen lowered Alamos Gold from a "buy" rating to a "hold" rating in a research note on Sunday, August 2nd. Bank of America decreased their target price on Alamos Gold from $50.00 to $39.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Scotiabank reissued an "outperform" rating on shares of Alamos Gold in a research note on Tuesday, July 14th. 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. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $47.50.

Alamos Gold Stock Performance

Alamos Gold stock opened at $31.88 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.67 and a current ratio of 2.07. The company has a market capitalization of $13.34 billion, a PE ratio of 11.51, a P/E/G ratio of 0.44 and a beta of 0.59. The company has a 50 day moving average price of $34.10 and a 200-day moving average price of $37.09. Alamos Gold Inc. has a fifty-two week low of $27.05 and a fifty-two week high of $55.41.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last announced its quarterly earnings data 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 return on equity of 19.28% and a net margin of 52.64%.The company had revenue of $594.10 million for the quarter, compared to analysts' expectations of $593.58 million. During the same quarter in the prior year, the firm earned $0.34 earnings per share. Alamos Gold's revenue was up 35.6% compared to the same quarter last year. As a group, equities analysts forecast that Alamos Gold Inc. will post 2.11 earnings per share for the current year.

Alamos Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th were paid a dividend of $0.04 per share. The ex-dividend date was Thursday, September 10th. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. Alamos Gold's dividend payout ratio (DPR) is currently 5.78%.

Alamos Gold Profile

Alamos Gold Inc is a Canadian-based gold producer engaged in the acquisition, exploration, development and operation of gold mines. The company's activities include mining, processing and selling gold, as well as advancing exploration and development projects in established mining regions.

Alamos Gold's principal operations are located in Ontario, Canada, and include the Young-Davidson and Island Gold mines, along with the Magino mine. The company also operates the Mulatos mining district in Sonora, Mexico, which includes the Mulatos mine and related deposits and exploration properties.

Founded in 2003, Alamos Gold has expanded through mine development, exploration and acquisitions in North America.

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