Mackenzie Financial Corp Decreases Stock Position in Alamos Gold Inc. (NYSE:AGI)

Key Points

• Mackenzie Financial Corp reduced its stake in Alamos Gold Inc. by 7.9%, holding approximately 1.61% of the company's stock worth $181.34 million after selling 584,607 shares during the first quarter.
• Despite the stake reduction, several hedge funds are increasing their investments in Alamos Gold, with SBI Securities Co. Ltd. growing its stake by 67.0%.
• Alamos Gold missed earnings estimates with $0.14 EPS compared to the expected $0.19, but reported a revenue increase of 20% year-over-year totaling $333 million.

Mackenzie Financial Corp trimmed its holdings in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 7.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,787,022 shares of the basic materials company's stock after selling 584,607 shares during the period. Mackenzie Financial Corp owned about 1.61% of Alamos Gold worth $181,336,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in AGI. Sunbelt Securities Inc. bought a new stake in Alamos Gold during the 1st quarter valued at approximately $41,000. SBI Securities Co. Ltd. increased its stake in Alamos Gold by 67.0% during the first quarter. SBI Securities Co. Ltd. now owns 1,645 shares of the basic materials company's stock worth $44,000 after acquiring an additional 660 shares during the last quarter. Cutler Capital Management LLC purchased a new stake in Alamos Gold during the fourth quarter valued at approximately $108,000. Coppell Advisory Solutions LLC lifted its stake in shares of Alamos Gold by 14.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 10,011 shares of the basic materials company's stock valued at $181,000 after purchasing an additional 1,260 shares during the last quarter. Finally, NBT Bank N A NY bought a new position in shares of Alamos Gold during the 1st quarter valued at approximately $190,000. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

Alamos Gold Stock Down 4.4%

Shares of AGI traded down $1.12 during midday trading on Thursday, reaching $24.25. 4,690,141 shares of the stock were exchanged, compared to its average volume of 3,468,708. The company has a current ratio of 1.49, a quick ratio of 0.94 and a debt-to-equity ratio of 0.07. The company's 50 day moving average is $26.39 and its two-hundred day moving average is $25.16. The company has a market capitalization of $10.19 billion, a P/E ratio of 39.07, a PEG ratio of 0.56 and a beta of 0.54. Alamos Gold Inc. has a 52 week low of $15.74 and a 52 week high of $31.00.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last released its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.01. The firm had revenue of $438.20 million for the quarter, compared to the consensus estimate of $400.61 million. Alamos Gold had a net margin of 18.36% and a return on equity of 9.83%. The company's quarterly revenue was up 31.7% on a year-over-year basis. During the same period last year, the firm earned $0.24 earnings per share. On average, sell-side analysts anticipate that Alamos Gold Inc. will post 1.29 earnings per share for the current year.

Alamos Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Thursday, June 12th. Alamos Gold's payout ratio is currently 16.13%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AGI shares. Scotiabank restated an "outperform" rating on shares of Alamos Gold in a research report on Monday, April 14th. Stifel Canada upgraded shares of Alamos Gold to a "strong-buy" rating in a report on Tuesday, July 8th. Royal Bank Of Canada upped their price target on shares of Alamos Gold from $27.00 to $30.00 and gave the company an "outperform" rating in a report on Friday, April 4th. Wall Street Zen downgraded shares of Alamos Gold from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Finally, Bank of America cut their target price 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. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Alamos Gold presently has an average rating of "Buy" and a consensus price target of $30.38.

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.