SEB Asset Management AB Invests $1.89 Million in Alamos Gold Inc. $AGI

Key Points

• SEB Asset Management AB opened a new position in Alamos Gold during the first quarter, buying 42,613 shares valued at about $1.89 million.
• Alamos Gold’s stock was down 3.9% and opened at $29.36, well below its 52-week high of $55.41, while institutional investors still own about 64.33% of the shares.
• The company recently reported Q2 earnings that matched EPS expectations at $0.54 per share, and it continued paying a quarterly dividend of $0.04 per share, equivalent to a 0.5% annual yield.

SEB Asset Management AB bought a new stake in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 42,613 shares of the basic materials company's stock, valued at approximately $1,890,000.

Several other institutional investors and hedge funds have also modified their holdings of AGI. Smartleaf Asset Management LLC raised its stake in Alamos Gold by 44.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 722 shares of the basic materials company's stock worth $28,000 after purchasing an additional 222 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of Alamos Gold by 2.0% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,760 shares of the basic materials company's stock worth $454,000 after purchasing an additional 229 shares in the last quarter. Clearstead Advisors LLC raised its position in shares of Alamos Gold by 62.7% in the fourth quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company's stock valued at $25,000 after buying an additional 251 shares in the last quarter. Sheets Smith Wealth Management boosted its stake in shares of Alamos Gold by 1.3% in the fourth quarter. Sheets Smith Wealth Management now owns 20,098 shares of the basic materials company's stock valued at $775,000 after buying an additional 258 shares during the period. Finally, Private Advisor Group LLC lifted its position in shares of Alamos Gold by 3.2% during the 3rd quarter. Private Advisor Group LLC now owns 9,739 shares of the basic materials company's stock valued at $340,000 after acquiring an additional 300 shares during the period. 64.33% of the stock is currently owned by institutional investors and hedge funds.

Alamos Gold Stock Down 3.9%

Alamos Gold stock opened at $29.36 on Friday. Alamos Gold Inc. has a fifty-two week low of $23.92 and a fifty-two week high of $55.41. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.61 and a current ratio of 2.01. The firm's 50-day simple moving average is $34.11 and its 200 day simple moving average is $40.79. The stock has a market cap of $12.29 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 0.39 and a beta of 0.55.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last posted its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $0.54 EPS for the quarter, meeting the consensus estimate of $0.54. The firm had revenue of $596.70 million during the quarter, compared to analyst estimates of $612.35 million. Alamos Gold had a net margin of 51.24% and a return on equity of 18.03%. The company's revenue for the quarter was up 79.2% on a year-over-year basis. During the same quarter last year, the business posted $0.14 EPS. Research analysts predict that Alamos Gold Inc. will post 2.19 EPS for the current fiscal year.

Alamos Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders 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 0.5%. The ex-dividend date was Thursday, June 11th. Alamos Gold's payout ratio is presently 6.37%.

Analyst Ratings Changes

AGI has been the topic of several analyst reports. Jefferies Financial Group reduced their price target on shares of Alamos Gold from $50.00 to $49.00 and set a "buy" rating on the stock in a research report on Monday, July 6th. Bank of America reduced their price target on Alamos Gold from $50.00 to $39.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Royal Bank Of Canada cut their target price on Alamos Gold from $52.00 to $42.00 and set an "outperform" rating on the stock in a report on Thursday, July 9th. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Alamos Gold in a research report on Saturday, June 20th. Finally, Wall Street Zen lowered Alamos Gold from a "buy" rating to a "hold" rating in a research report on Saturday, June 27th. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $47.50.

Alamos Gold 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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