Sumitomo Mitsui Trust Group Inc. Trims Stock Holdings in Alamos Gold Inc. $AGI

Key Points

• Sumitomo Mitsui Trust Group cut its stake in Alamos Gold by 30.5% in the first quarter, selling 35,065 shares and leaving it with 80,045 shares valued at about $3.56 million.
• Wall Street remains broadly positive on the stock: 10 analysts rate Alamos Gold a Buy and one rates it Hold, giving it a consensus Moderate Buy with an average price target of $47.50.
• Alamos Gold recently reported quarterly EPS of $0.54, matching expectations, while revenue rose 79.2% year over year to $596.7 million; the company also paid a quarterly dividend of $0.04 per share.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 30.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,045 shares of the basic materials company's stock after selling 35,065 shares during the quarter. Sumitomo Mitsui Trust Group Inc.'s holdings in Alamos Gold were worth $3,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Atlantic Union Bankshares Corp purchased a new position in shares of Alamos Gold in the fourth quarter valued at $25,000. Clearstead Advisors LLC lifted its holdings in Alamos Gold by 62.7% during the 4th quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company's stock worth $25,000 after purchasing an additional 251 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Alamos Gold by 44.4% during 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. Bayforest Capital Ltd bought a new position in Alamos Gold in the 4th quarter worth about $44,000. Finally, State of Wyoming bought a new position in Alamos Gold in the 4th quarter worth about $71,000. Hedge funds and other institutional investors own 64.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Scotiabank reiterated an "outperform" rating on shares of Alamos Gold in a research report on Tuesday. Wall Street Zen lowered shares of Alamos Gold from a "buy" rating to a "hold" rating in a research report on Saturday, June 27th. Bank of America reduced their price objective on shares of Alamos Gold from $50.00 to $39.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Alamos Gold in a report on Saturday, June 20th. Finally, Jefferies Financial Group lowered their target price on shares of Alamos Gold from $50.00 to $49.00 and set a "buy" rating on the stock in a research note on Monday, July 6th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. 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 Stock Performance

NYSE:AGI opened at $29.36 on Wednesday. The business's 50-day moving average price is $36.11 and its two-hundred day moving average price is $41.29. Alamos Gold Inc. has a twelve month low of $23.92 and a twelve month high of $55.41. The stock has a market cap of $12.29 billion, a P/E ratio of 11.70, a PEG ratio of 0.37 and a beta of 0.55. The company has a quick ratio of 1.61, a current ratio of 2.01 and a debt-to-equity ratio of 0.05.

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

Alamos Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were given a dividend of $0.04 per share. The ex-dividend date was Thursday, June 11th. This represents a $0.16 annualized dividend and a yield of 0.5%. Alamos Gold's payout ratio is presently 6.37%.

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.

Want to see what other hedge funds are holding AGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.