Magnetar Financial LLC Sells 119,799 Shares of Alamos Gold Inc. $AGI

Key Points

• Magnetar Financial LLC cut its stake in Alamos Gold by 40.6% in Q3, selling 119,799 shares and now holds 175,223 shares valued at about $6.11 million.
• Alamos reported quarterly EPS of $0.54 (vs. $0.49 consensus) and revenue of $575.3M (below estimates) with revenue up 53.1% year‑over‑year, and the company raised its quarterly dividend to $0.04 (annualized $0.16, yield 0.3%).
• The stock trades near $50.65, has a market cap of about $21.3 billion, institutional investors own 64.33% of shares, and analysts carry an average "Buy" rating with a $45.50 average price target.

Magnetar Financial LLC lowered its stake in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 40.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 175,223 shares of the basic materials company's stock after selling 119,799 shares during the quarter. Magnetar Financial LLC's holdings in Alamos Gold were worth $6,108,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Alamos Gold by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 17,233,606 shares of the basic materials company's stock worth $600,712,000 after purchasing an additional 524,263 shares during the period. Intact Investment Management Inc. lifted its stake in Alamos Gold by 3.8% in the third quarter. Intact Investment Management Inc. now owns 657,696 shares of the basic materials company's stock valued at $22,928,000 after purchasing an additional 24,330 shares during the last quarter. Caldwell Investment Management Ltd. grew its holdings in Alamos Gold by 143.5% during the third quarter. Caldwell Investment Management Ltd. now owns 168,000 shares of the basic materials company's stock valued at $5,818,000 after purchasing an additional 99,000 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Alamos Gold by 29.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,468,980 shares of the basic materials company's stock valued at $51,192,000 after purchasing an additional 336,200 shares during the period. Finally, Swiss National Bank increased its position in Alamos Gold by 55.3% in the second quarter. Swiss National Bank now owns 1,277,936 shares of the basic materials company's stock worth $33,860,000 after buying an additional 455,100 shares during the last quarter. Hedge funds and other institutional investors own 64.33% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Weiss Ratings restated a "buy (a)" rating on shares of Alamos Gold in a research note on Monday, December 29th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Alamos Gold in a research note on Wednesday, February 4th. Jefferies Financial Group reissued a "buy" rating and issued a $49.00 price objective on shares of Alamos Gold in a report on Sunday, December 7th. Wall Street Zen cut Alamos Gold from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 1st. Finally, Desjardins began coverage on shares of Alamos Gold in a research report on Friday, November 28th. They set a "buy" rating for the company. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $45.50.

Alamos Gold Trading Down 1.0%

Shares of AGI stock opened at $50.65 on Wednesday. The company's fifty day simple moving average is $44.06 and its two-hundred day simple moving average is $37.60. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.00 and a quick ratio of 1.60. Alamos Gold Inc. has a 1 year low of $23.33 and a 1 year high of $55.41. The stock has a market capitalization of $21.27 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 0.68 and a beta of 0.54.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last posted its earnings results on Wednesday, February 18th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.05. The firm had revenue of $575.30 million for the quarter, compared to the consensus estimate of $596.18 million. Alamos Gold had a return on equity of 14.83% and a net margin of 48.97%.The business's quarterly revenue was up 53.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.25 earnings per share. As a group, analysts anticipate that Alamos Gold Inc. will post 1.29 earnings per share for the current year.

Alamos Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be issued a dividend of $0.04 per share. This is a positive change from Alamos Gold's previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.16 dividend on an annualized basis and a yield of 0.3%. Alamos Gold's payout ratio is currently 7.62%.

About Alamos Gold

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.

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