IFP Advisors Inc Decreases Stake in Alamos Gold Inc. $AGI

Key Points

• IFP Advisors Inc reduced its stake in Alamos Gold Inc. by 31.5%, holding 49,608 shares worth approximately $1.32 million after selling 22,856 shares during the second quarter.
• Several institutional investors have adjusted their positions in Alamos Gold, with Addenda Capital Inc. increasing its holdings by 12.3%, now owning nearly 1.94 million shares valued at about $51.66 million.
• Alamos Gold declared a quarterly dividend of $0.025 per share, with a current yield of 0.3%, and a payout ratio of 12.05%.

IFP Advisors Inc trimmed its holdings in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 31.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 49,608 shares of the basic materials company's stock after selling 22,856 shares during the quarter. IFP Advisors Inc's holdings in Alamos Gold were worth $1,318,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AGI. Addenda Capital Inc. increased its holdings in Alamos Gold by 12.3% in the second quarter. Addenda Capital Inc. now owns 1,944,928 shares of the basic materials company's stock valued at $51,657,000 after buying an additional 212,918 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Alamos Gold in the first quarter valued at $320,000. Confluence Investment Management LLC purchased a new position in Alamos Gold in the second quarter valued at $717,000. Cigna Investments Inc. New acquired a new stake in shares of Alamos Gold in the second quarter valued at about $201,000. Finally, Brown Advisory Inc. grew its position in shares of Alamos Gold by 9.3% in the first quarter. Brown Advisory Inc. now owns 11,782 shares of the basic materials company's stock valued at $315,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors own 64.33% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on AGI. BMO Capital Markets reiterated an "outperform" rating on shares of Alamos Gold in a research report on Tuesday, September 16th. Weiss Ratings reiterated a "buy (b)" rating on shares of Alamos Gold in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Alamos Gold from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 3rd. CIBC reiterated an "outperform" rating on shares of Alamos Gold in a research report on Tuesday, July 15th. Finally, National Bankshares reiterated an "outperform" rating on shares of Alamos Gold in a research report on Tuesday, August 5th. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Alamos Gold currently has an average rating of "Buy" and an average target price of $31.17.

Alamos Gold Stock Performance

AGI opened at $33.03 on Monday. The firm has a market capitalization of $13.89 billion, a PE ratio of 39.80, a PEG ratio of 0.67 and a beta of 0.50. Alamos Gold Inc. has a twelve month low of $17.42 and a twelve month high of $35.61. The firm's 50-day moving average price is $30.68 and its 200 day moving average price is $28.00. 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 (NYSE:AGI - Get Free Report) TSE: AGI last posted 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 firm had revenue of $438.20 million for the quarter, compared to analyst estimates of $400.61 million. Alamos Gold had a net margin of 22.99% and a return on equity of 10.67%. Alamos Gold's quarterly revenue was up 31.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.24 earnings per share. As a group, sell-side analysts expect that Alamos Gold Inc. will post 1.29 EPS for the current fiscal year.

Alamos Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 11th were given a dividend of $0.025 per share. The ex-dividend date was Thursday, September 11th. This represents a $0.10 dividend on an annualized basis and a yield of 0.3%. 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.