Mudita Advisors LLP Sells 190,700 Shares of Alamos Gold Inc. $AGI

Key Points

• Mudita Advisors LLP sold 190,700 shares of Alamos Gold, trimming its position by 39.9% to 287,104 shares worth about $10.0M, representing roughly 2.9% of the fund’s portfolio.
• Alamos reported Q results with $0.54 EPS (beat the $0.49 estimate) and revenue of $575.3M (up 53.1% YoY), and raised its quarterly dividend to $0.04 (annualized $0.16, 0.3% yield); the stock traded down about 3% to $47.06.
• Other institutional buyers boosted stakes (notably VanEck, Invesco, Mackenzie and Legal & General), leaving institutional ownership at ~64.3%, while analysts maintain a consensus "Buy" rating with an average target of $45.50.

Mudita Advisors LLP lessened its holdings in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 39.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 287,104 shares of the basic materials company's stock after selling 190,700 shares during the quarter. Alamos Gold makes up approximately 2.9% of Mudita Advisors LLP's investment portfolio, making the stock its 11th largest position. Mudita Advisors LLP owned 0.07% of Alamos Gold worth $10,008,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Invesco Ltd. increased its position in Alamos Gold by 23.4% in the 3rd quarter. Invesco Ltd. now owns 2,981,880 shares of the basic materials company's stock valued at $103,948,000 after acquiring an additional 565,441 shares during the period. Barometer Capital Management Inc. acquired a new position in shares of Alamos Gold during the third quarter worth $10,493,000. Mackenzie Financial Corp grew its stake in shares of Alamos Gold by 6.3% in the third quarter. Mackenzie Financial Corp now owns 9,547,541 shares of the basic materials company's stock worth $332,724,000 after purchasing an additional 567,926 shares during the last quarter. Van ECK Associates Corp increased its holdings in Alamos Gold by 35.3% in the third quarter. Van ECK Associates Corp now owns 45,544,137 shares of the basic materials company's stock valued at $1,587,666,000 after purchasing an additional 11,876,324 shares during the period. Finally, Legal & General Group Plc increased its holdings in Alamos Gold by 41.6% in the third quarter. Legal & General Group Plc now owns 2,594,846 shares of the basic materials company's stock valued at $90,467,000 after purchasing an additional 762,115 shares during the period. 64.33% of the stock is currently owned by institutional investors and hedge funds.

Alamos Gold Trading Down 3.0%

AGI stock traded down $1.46 during midday trading on Friday, hitting $47.06. The stock had a trading volume of 443,028 shares, compared to its average volume of 4,046,034. The company has a current ratio of 2.00, a quick ratio of 1.60 and a debt-to-equity ratio of 0.05. The firm has a market cap of $19.76 billion, a P/E ratio of 22.40, a price-to-earnings-growth ratio of 0.66 and a beta of 0.55. The business has a fifty day moving average price of $44.47 and a two-hundred day moving average price of $37.76. Alamos Gold Inc. has a 1-year low of $23.49 and a 1-year high of $55.41.

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

Alamos Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be paid a dividend of $0.04 per share. This is an increase from Alamos Gold's previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, March 12th. Alamos Gold's payout ratio is 4.76%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on AGI shares. Weiss Ratings reaffirmed a "buy (a)" rating on shares of Alamos Gold in a research report on Monday, December 29th. Desjardins started coverage on Alamos Gold in a research note on Friday, November 28th. They issued a "buy" rating for the company. Wall Street Zen downgraded Alamos Gold from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 1st. Scotiabank lifted their price objective on Alamos Gold from $55.00 to $60.00 and gave the stock a "sector outperform" rating in a research note on Friday, February 6th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $49.00 target price on shares of Alamos Gold in a report on Sunday, December 7th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Alamos Gold presently has a consensus rating of "Buy" and an average price target of $45.50.

Alamos Gold Company Profile

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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