Forge First Asset Management Inc. Lowers Holdings 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 first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Alamos Gold by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 15,995,738 shares of the basic materials company's stock worth $295,105,000 after acquiring an additional 279,280 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in 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 valued at $138,932,000 after acquiring an additional 318,360 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Alamos Gold by 296.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,375,892 shares of the basic materials company's stock worth $136,011,000 after buying an additional 5,516,186 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Alamos Gold by 2.0% during 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 during the period. Finally, FMR LLC raised its position in shares of Alamos Gold by 1.9% during 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 during the period. 64.33% of the stock is currently owned by institutional investors.

Alamos Gold Stock Performance

AGI stock traded up $0.19 during trading on Wednesday, reaching $26.42. The stock had a trading volume of 3,543,134 shares, compared to its average volume of 3,489,469. The stock's 50 day moving average is $26.32 and its two-hundred day moving average is $25.35. 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 52 week low of $16.63 and a 52 week high of $31.00. The firm has a market cap of $11.11 billion, a PE ratio of 31.83, a PEG ratio of 0.56 and a beta of 0.51.

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 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $400.61 million. During the same quarter last year, the business posted $0.24 earnings per share. The firm's revenue was up 31.7% on a year-over-year basis. As a group, equities analysts anticipate that Alamos Gold Inc. will post 1.29 earnings per share for the current year.

Alamos Gold Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AGI shares. Stifel Nicolaus started coverage on Alamos Gold in a research report on Wednesday, July 9th. They issued a "buy" rating for the company. Wall Street Zen upgraded Alamos Gold from a "hold" rating to a "buy" rating in a research report on Saturday. National Bankshares reiterated an "outperform" rating on shares of Alamos Gold in a research report on Tuesday. Scotiabank reissued an "outperform" rating on shares of Alamos Gold in a research note on Monday, April 14th. Finally, Bank of America reduced their price target on Alamos Gold from $31.00 to $30.50 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Alamos Gold has a consensus rating of "Buy" and an average target price of $30.38.

Alamos Gold 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.