Principal Financial Group Inc. Has $1.05 Million Position in Alamos Gold Inc. $AGI

Key Points

• Principal Financial Group cut its Alamos Gold stake by 97.1% in the first quarter, selling 794,220 shares and retaining 23,700 shares valued at approximately $1.05 million. Institutional investors and hedge funds collectively own 64.33% of the company.
• Analyst sentiment remains favorable, with nine Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $47.50, despite Jefferies lowering its target to $49.
• Alamos Gold reported quarterly EPS of $0.59, exceeding estimates of $0.52, while revenue rose 35.6% year over year to $594.1 million. The company also pays a quarterly dividend of $0.04 per share, yielding 0.6% annually.

Principal Financial Group Inc. lessened its stake in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 97.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,700 shares of the basic materials company's stock after selling 794,220 shares during the period. Principal Financial Group Inc.'s holdings in Alamos Gold were worth $1,051,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its holdings in shares of Alamos Gold by 105.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,394,604 shares of the basic materials company's stock worth $64,032,000 after purchasing an additional 1,227,695 shares in the last quarter. Empowered Funds LLC acquired a new position in Alamos Gold in the first quarter valued at about $200,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Alamos Gold by 129.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,013,866 shares of the basic materials company's stock valued at $27,111,000 after purchasing an additional 571,536 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in Alamos Gold by 375.1% during the second quarter. Qube Research & Technologies Ltd now owns 980,474 shares of the basic materials company's stock worth $26,042,000 after purchasing an additional 774,111 shares during the period. Finally, Sei Investments Co. lifted its position in Alamos Gold by 6.9% during the second quarter. Sei Investments Co. now owns 403,217 shares of the basic materials company's stock worth $10,709,000 after purchasing an additional 26,045 shares during the period. 64.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AGI has been the topic of a number of analyst reports. Weiss Ratings downgraded shares of Alamos Gold from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, July 23rd. Scotiabank reaffirmed an "outperform" rating on shares of Alamos Gold in a report on Tuesday, July 14th. Wall Street Zen upgraded Alamos Gold from a "hold" rating to a "buy" rating in a research note on Saturday, July 25th. Jefferies Financial Group lowered their price target on Alamos Gold from $50.00 to $49.00 and set a "buy" rating for the company in a report on Monday, July 6th. Finally, Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Alamos Gold in a research report on Saturday, June 20th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $47.50.

Alamos Gold Trading Down 2.0%

Shares of Alamos Gold stock opened at $27.83 on Friday. The firm has a market capitalization of $11.65 billion, a PE ratio of 10.05, a price-to-earnings-growth ratio of 0.36 and a beta of 0.55. The company has a current ratio of 2.01, a quick ratio of 1.61 and a debt-to-equity ratio of 0.05. The firm's 50 day moving average is $32.84 and its 200 day moving average is $40.28. Alamos Gold Inc. has a 1 year low of $23.92 and a 1 year high of $55.41.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last released its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.07. The business had revenue of $594.10 million during the quarter, compared to analysts' expectations of $593.58 million. Alamos Gold had a net margin of 52.64% and a return on equity of 19.77%. The firm's quarterly revenue was up 35.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.34 EPS. Equities research analysts forecast that Alamos Gold Inc. will post 2.19 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, June 11th. Alamos Gold's payout ratio is presently 5.78%.

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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