Sowell Financial Services LLC Cuts Holdings in Alamos Gold Inc. $AGI

Key Points

• Sowell Financial Services cut its stake in Alamos Gold by 55.3% in Q4, selling 30,652 shares and leaving 24,811 shares valued at about $957,000.
• Analysts maintain a consensus Buy rating with an average price target of $50.67, and Scotiabank recently raised its target to $60 with a "sector outperform" rating.
• Alamos beat Q4 EPS estimates ($0.54 vs. $0.49), reported revenue up 53.1% year-over-year, and raised its quarterly dividend to $0.04 (annualized $0.16, yield ~0.3%).

Sowell Financial Services LLC reduced its position in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 55.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,811 shares of the basic materials company's stock after selling 30,652 shares during the quarter. Sowell Financial Services LLC's holdings in Alamos Gold were worth $957,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Sheets Smith Wealth Management boosted its stake in 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 acquiring an additional 258 shares during the period. Private Advisor Group LLC boosted its stake in Alamos Gold by 3.2% in the third 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. Pinnacle Wealth Management Group Inc. boosted its stake in Alamos Gold by 0.5% in the third quarter. Pinnacle Wealth Management Group Inc. now owns 72,121 shares of the basic materials company's stock valued at $2,514,000 after acquiring an additional 390 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Alamos Gold by 4.5% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 9,232 shares of the basic materials company's stock valued at $322,000 after acquiring an additional 400 shares during the period. Finally, Mariner LLC boosted its stake in Alamos Gold by 1.1% in the third quarter. Mariner LLC now owns 47,973 shares of the basic materials company's stock valued at $1,672,000 after acquiring an additional 534 shares during the period. 64.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on AGI shares. Scotiabank lifted their target price on Alamos Gold from $55.00 to $60.00 and gave the company a "sector outperform" rating in a research note on Friday, February 6th. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Alamos Gold in a research note on Wednesday, February 4th. Weiss Ratings downgraded Alamos Gold from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Thursday, April 2nd. Finally, Wall Street Zen cut Alamos Gold from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 1st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $50.67.

Alamos Gold Stock Performance

AGI opened at $47.56 on Thursday. The business's 50 day moving average is $45.28 and its 200-day moving average is $39.40. The stock has a market cap of $19.97 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 0.63 and a beta of 0.63. The company has a current ratio of 2.00, a quick ratio of 1.60 and a debt-to-equity ratio of 0.05. Alamos Gold Inc. has a twelve month low of $23.75 and a twelve month high of $55.41.

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

Alamos Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost from Alamos Gold's previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Thursday, March 12th. Alamos Gold's dividend payout ratio is presently 7.62%.

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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