Gabelli Funds LLC Has $28.12 Million Stock Position in Alamos Gold Inc. $AGI

Key Points

• Gabelli Funds LLC reduced its stake in Alamos Gold Inc. by 3.3%, owning 1,051,675 shares valued at approximately $28.12 million after selling 35,800 shares in the first quarter.
• Alamos Gold's stock has received multiple upgrades from analysts, with ratings including "strong buy" and a consensus target price of $30.38.
• The company reported earnings of $0.34 EPS for the last quarter, exceeding expectations, and saw revenue growth of 31.7% year-over-year.

Gabelli Funds LLC cut its position in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 3.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,051,675 shares of the basic materials company's stock after selling 35,800 shares during the quarter. Gabelli Funds LLC owned 0.25% of Alamos Gold worth $28,122,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. FORA Capital LLC acquired a new stake in Alamos Gold during the first quarter worth about $555,000. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Alamos Gold during the 1st quarter worth approximately $24,011,000. Old West Investment Management LLC grew its holdings in shares of Alamos Gold by 1.6% during the 1st quarter. Old West Investment Management LLC now owns 708,639 shares of the basic materials company's stock worth $18,949,000 after purchasing an additional 11,474 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Alamos Gold during the 1st quarter worth approximately $2,054,000. Finally, Jump Financial LLC acquired a new stake in shares of Alamos Gold during the 1st quarter worth approximately $1,486,000. 64.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AGI has been the topic of several recent research reports. Stifel Nicolaus initiated coverage on Alamos Gold in a report on Wednesday, July 9th. They set a "buy" rating on the stock. Stifel Canada raised Alamos Gold to a "strong-buy" rating in a report on Tuesday, July 8th. CIBC reissued an "outperform" rating on shares of Alamos Gold in a report on Tuesday, July 15th. National Bankshares reissued an "outperform" rating on shares of Alamos Gold in a report on Tuesday, August 5th. Finally, Wall Street Zen lowered Alamos Gold from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Alamos Gold has an average rating of "Buy" and a consensus target price of $30.38.

Alamos Gold Stock Up 3.2%

Shares of AGI opened at $29.29 on Wednesday. The company has a market capitalization of $12.31 billion, a P/E ratio of 35.29, a PEG ratio of 0.62 and a beta of 0.51. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.49 and a quick ratio of 1.00. Alamos Gold Inc. has a one year low of $17.42 and a one year high of $31.00. The business's 50 day simple moving average is $26.29 and its 200-day simple moving average is $25.96.

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

Alamos Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, June 12th. Alamos Gold's 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.