Canoe Financial LP Sells 9,190 Shares of Alamos Gold Inc. $AGI

Key Points

• Canoe Financial LP reduced its stake in Alamos Gold Inc. by 4.0%, selling 9,190 shares and now holding 220,222 shares valued at approximately $5.86 million.
• Alamos Gold recently reported quarterly earnings of $0.34 per share, surpassing analyst expectations, with revenue increasing by 31.7% year-over-year to $438.20 million.
• The company announced a quarterly dividend of $0.025 per share, with a dividend yield of 0.3%, reflecting a payout ratio of 12.05%.

Canoe Financial LP trimmed its position in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 4.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 220,222 shares of the basic materials company's stock after selling 9,190 shares during the period. Canoe Financial LP owned 0.05% of Alamos Gold worth $5,862,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Banque Transatlantique SA acquired a new stake in Alamos Gold in the first quarter valued at $31,000. Sunbelt Securities Inc. acquired a new stake in Alamos Gold in the first quarter valued at $41,000. SBI Securities Co. Ltd. increased its holdings in Alamos Gold by 67.0% in the first quarter. SBI Securities Co. Ltd. now owns 1,645 shares of the basic materials company's stock valued at $44,000 after purchasing an additional 660 shares during the period. SVB Wealth LLC acquired a new stake in Alamos Gold in the first quarter valued at $67,000. Finally, Banque Cantonale Vaudoise acquired a new stake in Alamos Gold in the first quarter valued at $68,000. 64.33% of the stock is currently owned by institutional investors and hedge funds.

Alamos Gold Stock Performance

Shares of Alamos Gold stock opened at $31.18 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $28.07 and a two-hundred day moving average price of $26.99. Alamos Gold Inc. has a 1-year low of $17.42 and a 1-year high of $34.01. The company has a market cap of $13.11 billion, a P/E ratio of 37.57, a PEG ratio of 0.67 and a beta of 0.55.

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

Alamos Gold Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently weighed in on AGI shares. Wall Street Zen downgraded Alamos Gold from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. BMO Capital Markets restated an "outperform" rating on shares of Alamos Gold in a report on Tuesday. National Bankshares restated an "outperform" rating on shares of Alamos Gold in a report on Tuesday, August 5th. CIBC restated an "outperform" rating on shares of Alamos Gold in a report on Tuesday, July 15th. Finally, Stifel Canada upgraded Alamos Gold to a "strong-buy" rating in a report on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Alamos Gold presently has an average rating of "Buy" and an average target price of $30.38.

About Alamos Gold

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.

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