Principal Financial Group Inc. Sells 225,300 Shares of Alamos Gold Inc. (NYSE:AGI)

Principal Financial Group Inc. lowered its stake in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 16.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,133,100 shares of the basic materials company's stock after selling 225,300 shares during the quarter. Principal Financial Group Inc. owned approximately 0.27% of Alamos Gold worth $30,271,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Red Cedar Investment Management LLC bought a new position in Alamos Gold in the 1st quarter worth about $2,847,000. Sunbelt Securities Inc. bought a new position in Alamos Gold in the 1st quarter worth about $41,000. Allspring Global Investments Holdings LLC boosted its stake in Alamos Gold by 6.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,085,880 shares of the basic materials company's stock worth $29,018,000 after purchasing an additional 68,500 shares during the period. Harbour Capital Advisors LLC boosted its stake in Alamos Gold by 6.1% in the 1st quarter. Harbour Capital Advisors LLC now owns 49,325 shares of the basic materials company's stock worth $1,326,000 after purchasing an additional 2,835 shares during the period. Finally, Continuum Advisory LLC boosted its stake in Alamos Gold by 808.9% in the 1st quarter. Continuum Advisory LLC now owns 8,235 shares of the basic materials company's stock worth $220,000 after purchasing an additional 7,329 shares during the period. Institutional investors own 64.33% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on AGI. Wall Street Zen downgraded Alamos Gold from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Bank of America cut their price objective on Alamos Gold from $31.00 to $30.50 and set a "neutral" rating for the company in a report on Tuesday, April 8th. National Bank Financial raised Alamos Gold to a "strong-buy" rating in a report on Friday, March 21st. Scotiabank reissued an "outperform" rating on shares of Alamos Gold in a report on Monday, April 14th. Finally, Royal Bank Of Canada boosted their price objective on Alamos Gold from $27.00 to $30.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. Two analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $30.38.

Alamos Gold Trading Up 1.9%

Shares of NYSE:AGI traded up $0.49 during trading on Friday, reaching $26.60. 3,268,598 shares of the company traded hands, compared to its average volume of 2,926,213. The business's fifty day moving average is $26.30 and its 200-day moving average is $24.47. Alamos Gold Inc. has a 52-week low of $15.74 and a 52-week high of $31.00. The firm has a market capitalization of $11.18 billion, a price-to-earnings ratio of 42.90, a P/E/G ratio of 0.55 and a beta of 0.54. The company has a current ratio of 1.49, a quick ratio of 0.94 and a debt-to-equity ratio of 0.07.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last announced its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.05). Alamos Gold had a return on equity of 9.83% and a net margin of 18.36%. The business had revenue of $333.00 million during the quarter, compared to analysts' expectations of $324.98 million. During the same period in the previous year, the business earned $0.13 EPS. The business's revenue was up 20.0% compared to the same quarter last year. As a group, analysts forecast that Alamos Gold Inc. will post 1.29 EPS for the current year.

Alamos Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 12th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date was Thursday, June 12th. Alamos Gold's payout ratio is 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.