Moran Wealth Management LLC Reduces Stock Holdings in Alamos Gold Inc. $AGI

Key Points

• Moran Wealth Management LLC reduced its stake in Alamos Gold by 29.5% in Q4, selling 20,575 shares and retaining 49,256 shares valued at about $1.905 million.
• Analysts remain largely positive — MarketBeat's consensus rating is a Buy with an average price target of $50.67, while Scotiabank raised its target to $60 even as a few firms issued modest downgrades.
• Alamos beat EPS estimates with $0.54 for the quarter, reported revenue up 53.1% year-over-year, and raised its quarterly dividend from $0.03 to $0.04 (annualized $0.16, ~0.3% yield).

Moran Wealth Management LLC lowered its stake in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 29.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 49,256 shares of the basic materials company's stock after selling 20,575 shares during the quarter. Moran Wealth Management LLC's holdings in Alamos Gold were worth $1,905,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AGI. EverSource Wealth Advisors LLC boosted its stake in Alamos Gold by 69.6% during the third quarter. EverSource Wealth Advisors LLC now owns 1,416 shares of the basic materials company's stock worth $49,000 after buying an additional 581 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Alamos Gold by 528.4% in the third quarter. Farther Finance Advisors LLC now owns 4,468 shares of the basic materials company's stock valued at $156,000 after acquiring an additional 3,757 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in shares of Alamos Gold by 93.2% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,781 shares of the basic materials company's stock worth $167,000 after acquiring an additional 2,307 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Alamos Gold in the 1st quarter worth about $200,000. Finally, Orion Porfolio Solutions LLC purchased a new position in shares of Alamos Gold during the 3rd quarter worth about $205,000. Hedge funds and other institutional investors own 64.33% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AGI shares. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Alamos Gold in a report on Wednesday, February 4th. Scotiabank boosted their target price on Alamos Gold from $55.00 to $60.00 and gave the company a "sector outperform" rating in a research report on Friday, February 6th. Wall Street Zen cut Alamos Gold from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 1st. Finally, Weiss Ratings downgraded Alamos Gold from a "buy (a-)" rating to a "buy (b+)" rating in a report on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $50.67.

Alamos Gold Trading Up 0.1%

NYSE AGI opened at $49.38 on Monday. The stock has a market cap of $20.74 billion, a PE ratio of 23.51, a PEG ratio of 0.68 and a beta of 0.63. Alamos Gold Inc. has a 12 month low of $23.75 and a 12 month high of $55.41. The company's 50-day moving average price is $46.60 and its 200-day moving average price is $40.14. The company has a current ratio of 2.00, a quick ratio of 1.60 and a debt-to-equity ratio of 0.05.

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

Alamos Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th were paid a dividend of $0.04 per share. This is a boost from Alamos Gold's previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, March 12th. Alamos Gold's payout ratio is presently 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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