Nikko Asset Management Americas Inc. Cuts Stock Position in Alamos Gold Inc. (NYSE:AGI)

Key Points

• Nikko Asset Management Americas Inc. reduced its stake in Alamos Gold Inc. by 11.3%, now holding 129,277 shares valued at $3.46 million.
• Several large investors, including Dimensional Fund Advisors and Norges Bank, significantly increased their positions in Alamos Gold during the fourth quarter, indicating strong institutional interest.
• Alamos Gold reported $0.14 EPS for its last quarter, missing estimates, though its revenue was up 20% year-over-year, demonstrating growth despite the earnings miss.

Nikko Asset Management Americas Inc. lowered its holdings in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 11.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,277 shares of the basic materials company's stock after selling 16,417 shares during the period. Nikko Asset Management Americas Inc.'s holdings in Alamos Gold were worth $3,457,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Sunbelt Securities Inc. acquired a new position in shares of Alamos Gold in the 1st quarter worth $41,000. SBI Securities Co. Ltd. lifted its position in shares of Alamos Gold by 67.0% in the first quarter. SBI Securities Co. Ltd. now owns 1,645 shares of the basic materials company's stock worth $44,000 after buying an additional 660 shares during the last quarter. Cutler Capital Management LLC bought a new position in shares of Alamos Gold in the fourth quarter worth about $108,000. NBT Bank N A NY bought a new position in shares of Alamos Gold in the first quarter worth about $190,000. Finally, Continuum Advisory LLC increased its stake in Alamos Gold by 808.9% during the first quarter. Continuum Advisory LLC now owns 8,235 shares of the basic materials company's stock valued at $220,000 after acquiring an additional 7,329 shares during the period. Institutional investors own 64.33% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wall Street Zen downgraded Alamos Gold from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Royal Bank Of Canada lifted their price objective on Alamos Gold from $27.00 to $30.00 and gave the stock an "outperform" rating in a research note on Friday, April 4th. Stifel Canada upgraded Alamos Gold to a "strong-buy" rating in a report on Tuesday, July 8th. CIBC restated an "outperform" rating on shares of Alamos Gold in a report on Tuesday, July 15th. Finally, Bank of America cut their target price on shares of Alamos Gold from $31.00 to $30.50 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Alamos Gold presently has a consensus rating of "Buy" and a consensus target price of $30.38.

Alamos Gold Trading Up 0.7%

Shares of AGI stock traded up $0.18 during mid-day trading on Wednesday, reaching $25.86. The stock had a trading volume of 2,163,619 shares, compared to its average volume of 3,437,389. Alamos Gold Inc. has a 52-week low of $15.74 and a 52-week high of $31.00. 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 stock's 50-day moving average price is $26.40 and its two-hundred day moving average price is $25.16. The firm has a market capitalization of $10.87 billion, a PE ratio of 41.71, a price-to-earnings-growth ratio of 0.55 and a beta of 0.54.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last released its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.05). The company had revenue of $333.00 million for the quarter, compared to analysts' expectations of $324.98 million. Alamos Gold had a net margin of 18.36% and a return on equity of 9.83%. The firm's revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.13 earnings per share. Equities analysts expect that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $0.10 annualized dividend and a yield of 0.39%. Alamos Gold's dividend payout ratio (DPR) is currently 16.13%.

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.