Forge First Asset Management Inc. Has $907,000 Stake in Alamos Gold Inc. (NYSE:AGI)

Key Points

• Forge First Asset Management Inc. reduced its stake in Alamos Gold by 84.8%, holding 33,924 shares worth $907,000 after selling 189,276 shares during the first quarter.
• Alamos Gold reported $0.34 earnings per share (EPS) for the most recent quarter, exceeding analysts' estimates, and had a revenue increase of 31.7% compared to the same quarter last year.
• Analysts have generally given Alamos Gold a "Buy" consensus rating, with the average price target set at $30.38, indicating positive expectations for the stock's performance.

Forge First Asset Management Inc. lessened its stake in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 84.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,924 shares of the basic materials company's stock after selling 189,276 shares during the quarter. Forge First Asset Management Inc.'s holdings in Alamos Gold were worth $907,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Alamos Gold by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 15,995,738 shares of the basic materials company's stock worth $295,105,000 after purchasing an additional 279,280 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Alamos Gold by 4.4% in the fourth quarter. Renaissance Technologies LLC now owns 7,534,253 shares of the basic materials company's stock worth $138,932,000 after purchasing an additional 318,360 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Alamos Gold by 296.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,375,892 shares of the basic materials company's stock worth $136,011,000 after purchasing an additional 5,516,186 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Alamos Gold by 2.0% in the fourth quarter. Mackenzie Financial Corp now owns 7,371,629 shares of the basic materials company's stock worth $135,855,000 after purchasing an additional 145,726 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Alamos Gold by 1.9% in the fourth quarter. FMR LLC now owns 6,497,058 shares of the basic materials company's stock worth $119,864,000 after purchasing an additional 122,515 shares in the last quarter. Institutional investors and hedge funds own 64.33% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Wall Street Zen raised shares of Alamos Gold from a "hold" rating to a "buy" rating in a research report on Saturday. Stifel Canada raised shares of Alamos Gold to a "strong-buy" rating in a research report on Tuesday, July 8th. Stifel Nicolaus initiated coverage on shares of Alamos Gold in a research report on Wednesday, July 9th. They set a "buy" rating on the stock. CIBC reaffirmed an "outperform" rating on shares of Alamos Gold in a research report on Tuesday, July 15th. Finally, Bank of America dropped their price target on shares of Alamos Gold from $31.00 to $30.50 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. One analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $30.38.

Alamos Gold Stock Performance

Shares of AGI traded up $0.52 during trading hours on Friday, hitting $24.82. The company had a trading volume of 4,965,624 shares, compared to its average volume of 3,729,205. The company has a quick ratio of 1.00, a current ratio of 1.49 and a debt-to-equity ratio of 0.07. The business has a fifty day moving average of $26.33 and a 200-day moving average of $25.31. Alamos Gold Inc. has a 12 month low of $15.74 and a 12 month high of $31.00. The firm has a market cap of $10.43 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 0.55 and a beta of 0.51.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last released its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $0.34 EPS for the quarter, beating 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 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 prior year, the company posted $0.24 earnings per share. Alamos Gold's revenue was up 31.7% compared to the same quarter last year. Equities analysts anticipate that Alamos Gold Inc. will post 1.29 EPS for the current fiscal year.

Alamos Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Thursday, June 12th. Alamos Gold's dividend payout ratio is presently 12.05%.

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.