Driehaus Capital Management LLC Has $60.29 Million Holdings in Alamos Gold Inc. $AGI

Key Points

• Driehaus Capital Management LLC reduced its stake in Alamos Gold Inc. by 11.6%, selling 294,685 shares, leaving it with approximately 2.25 million shares valued at $60.29 million.
• Several institutional investors acquired new positions in Alamos Gold during the first quarter, totaling over $400,000 in new investments.
• Alamos Gold reported an earnings per share of $0.34, surpassing analysts’ estimates, with revenues increasing by 31.7% compared to the same quarter last year.

Driehaus Capital Management LLC trimmed its holdings in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 11.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,254,708 shares of the basic materials company's stock after selling 294,685 shares during the period. Driehaus Capital Management LLC owned about 0.54% of Alamos Gold worth $60,291,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AGI. T. Rowe Price Investment Management Inc. purchased a new stake in Alamos Gold during the first quarter worth $37,738,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Alamos Gold by 19.5% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,866,755 shares of the basic materials company's stock valued at $156,780,000 after acquiring an additional 957,359 shares during the period. Caisse DE Depot ET Placement DU Quebec purchased a new position in Alamos Gold in the 1st quarter valued at about $24,011,000. Canada Pension Plan Investment Board lifted its stake in Alamos Gold by 50.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,972,249 shares of the basic materials company's stock valued at $52,705,000 after buying an additional 665,485 shares in the last quarter. Finally, Two Sigma Investments LP lifted its stake in Alamos Gold by 106.1% in the 4th quarter. Two Sigma Investments LP now owns 1,288,696 shares of the basic materials company's stock worth $23,764,000 after purchasing an additional 663,381 shares in the last quarter. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

Alamos Gold Stock Up 5.0%

AGI stock traded up $1.54 during mid-day trading on Tuesday, hitting $31.99. 6,536,777 shares of the company were exchanged, compared to its average volume of 3,450,415. The company has a market capitalization of $13.45 billion, a PE ratio of 38.54, a price-to-earnings-growth ratio of 0.67 and a beta of 0.55. The company has a current ratio of 1.49, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. Alamos Gold Inc. has a twelve month low of $17.42 and a twelve month high of $32.00. The firm has a fifty day simple moving average of $26.56 and a 200 day simple moving average of $26.19.

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

Alamos Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 11th will be issued a dividend of $0.025 per share. 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 dividend payout ratio is currently 12.05%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Stifel Canada upgraded shares of Alamos Gold to a "strong-buy" rating in a report on Tuesday, July 8th. Stifel Nicolaus assumed coverage on shares of Alamos Gold in a report on Wednesday, July 9th. They issued a "buy" rating for the company. Wall Street Zen lowered shares of Alamos Gold from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. National Bankshares reiterated an "outperform" rating on shares of Alamos Gold in a research report on Tuesday, August 5th. Finally, CIBC reissued an "outperform" rating on shares of Alamos Gold in a research note on Tuesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $30.38.

Alamos Gold Company 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.