Generate Investment Management Ltd Sells 382,570 Shares of Alamos Gold Inc. $AGI

Key Points

• Generate Investment Management Ltd has reduced its stake in Alamos Gold Inc. by 51.5%, selling 382,570 shares and owning 360,464 shares valued at approximately $9.57 million as of the end of the second quarter.
• Alamos Gold reported a quarterly earnings per share of $0.34, surpassing analysts' estimates, and experienced a 31.7% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.025, contributing to an annualized dividend yield of 0.3%.

Generate Investment Management Ltd reduced its position in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 51.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 360,464 shares of the basic materials company's stock after selling 382,570 shares during the period. Generate Investment Management Ltd owned 0.09% of Alamos Gold worth $9,574,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AGI. Banque Transatlantique SA purchased a new stake in Alamos Gold during the first quarter valued at approximately $31,000. Sunbelt Securities Inc. purchased a new stake in shares of Alamos Gold during the 1st quarter valued at $41,000. SBI Securities Co. Ltd. boosted its position in shares of Alamos Gold by 67.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,645 shares of the basic materials company's stock worth $44,000 after purchasing an additional 660 shares in the last quarter. SVB Wealth LLC acquired a new stake in shares of Alamos Gold in the 1st quarter worth $67,000. Finally, Banque Cantonale Vaudoise purchased a new position in Alamos Gold during the 1st quarter worth $68,000. Hedge funds and other institutional investors own 64.33% of the company's stock.

Alamos Gold Trading Up 2.4%

Shares of Alamos Gold stock opened at $34.11 on Monday. Alamos Gold Inc. has a fifty-two week low of $17.42 and a fifty-two week high of $34.40. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.49. The firm has a market capitalization of $14.35 billion, a price-to-earnings ratio of 41.10, a PEG ratio of 0.70 and a beta of 0.55. The stock has a 50 day moving average of $28.96 and a 200 day moving average of $27.43.

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 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. The business had revenue of $438.20 million during the quarter, compared to analysts' expectations of $400.61 million. Alamos Gold had a return on equity of 10.67% and a net margin of 22.99%.The company's revenue was up 31.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.24 EPS. As a group, research analysts predict that Alamos Gold Inc. will post 1.29 earnings per share for the current year.

Alamos Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 11th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.3%. The ex-dividend date was Thursday, September 11th. Alamos Gold's dividend payout ratio (DPR) is 12.05%.

Analyst Ratings Changes

AGI has been the subject of a number of research analyst reports. CIBC reiterated an "outperform" rating on shares of Alamos Gold in a research note on Tuesday, July 15th. Stifel Canada upgraded shares of Alamos Gold to a "strong-buy" rating in a research note on Tuesday, July 8th. Wall Street Zen raised Alamos Gold from a "hold" rating to a "buy" rating in a research report on Saturday, September 20th. Stifel Nicolaus assumed coverage on Alamos Gold in a research report on Wednesday, July 9th. They set a "buy" rating for the company. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Alamos Gold in a research note on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $30.38.

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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