Easterly Investment Partners LLC Cuts Stock Position in Alamos Gold Inc. $AGI

Key Points

• Easterly Investment Partners LLC reduced its stake in Alamos Gold Inc. by 19.3% during the second quarter, leaving them with approximately 180,543 shares valued at about $4.8 million.
• A number of hedge funds increased or established new positions in Alamos Gold, with 64.33% of the stock now owned by institutional investors.
• Alamos Gold declared a quarterly dividend of $0.025 per share, leading to an annualized dividend yield of 0.3% and reflecting a dividend payout ratio of 12.05%.

Easterly Investment Partners LLC trimmed its holdings in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 19.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 180,543 shares of the basic materials company's stock after selling 43,063 shares during the period. Easterly Investment Partners LLC's holdings in Alamos Gold were worth $4,795,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC acquired a new stake in shares of Alamos Gold in the second quarter valued at about $30,000. Banque Transatlantique SA acquired a new stake in shares of Alamos Gold during the first quarter valued at about $31,000. Sunbelt Securities Inc. purchased a new stake in shares of Alamos Gold during the first quarter worth about $41,000. SBI Securities Co. Ltd. lifted its stake in shares of 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 worth $44,000 after acquiring an additional 660 shares in the last quarter. Finally, SVB Wealth LLC acquired a new position in shares of Alamos Gold in the first quarter worth about $67,000. 64.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AGI shares. Weiss Ratings restated a "buy (b)" rating on shares of Alamos Gold in a research note on Wednesday, October 8th. BMO Capital Markets restated an "outperform" rating on shares of Alamos Gold in a research note on Tuesday, September 16th. CIBC reiterated an "outperform" rating on shares of Alamos Gold in a research note on Tuesday, July 15th. Wall Street Zen downgraded shares of Alamos Gold from a "buy" rating to a "hold" rating in a research report on Friday, October 3rd. Finally, Stifel Canada upgraded shares of Alamos Gold to a "strong-buy" rating in a research note on Tuesday, July 8th. Three research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $35.33.

Alamos Gold Stock Performance

AGI stock opened at $37.46 on Friday. The company has a market capitalization of $15.76 billion, a P/E ratio of 45.13, a PEG ratio of 0.70 and a beta of 0.50. The company has a quick ratio of 1.00, a current ratio of 1.49 and a debt-to-equity ratio of 0.07. Alamos Gold Inc. has a fifty-two week low of $17.42 and a fifty-two week high of $37.54. The company has a 50-day simple moving average of $31.43 and a 200 day simple moving average of $28.23.

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

Alamos Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th were paid a dividend of $0.025 per share. The ex-dividend date of this dividend was Thursday, September 11th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.3%. Alamos Gold's dividend payout ratio (DPR) is 12.05%.

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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