The Manufacturers Life Insurance Company Lowers Stock Holdings in Alamos Gold Inc. $AGI

Key Points

• The Manufacturers Life Insurance Company has reduced its stake in Alamos Gold Inc. by 14.5%, now holding approximately 1.72 million shares valued at $46.25 million.
• Alamos Gold reported a 31.7% increase in revenue year-over-year, totaling $438.20 million with earnings per share of $0.34 for the last quarter, slightly surpassing analyst expectations.
• The company declared a quarterly dividend of $0.025 per share, with a dividend yield of 0.3% and a payout ratio of 12.05%.

The Manufacturers Life Insurance Company decreased its position in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 14.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,721,493 shares of the basic materials company's stock after selling 291,274 shares during the period. The Manufacturers Life Insurance Company owned about 0.41% of Alamos Gold worth $46,248,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of AGI. Hsbc Holdings PLC lifted its stake in Alamos Gold by 99.1% in the fourth quarter. Hsbc Holdings PLC now owns 20,698 shares of the basic materials company's stock valued at $380,000 after purchasing an additional 10,300 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Alamos Gold by 0.6% during the 4th quarter. Ameriprise Financial Inc. now owns 187,920 shares of the basic materials company's stock valued at $3,465,000 after buying an additional 1,063 shares in the last quarter. BLI Banque de Luxembourg Investments purchased a new stake in shares of Alamos Gold during the 4th quarter valued at approximately $9,179,000. Bank of America Corp DE lifted its stake in shares of Alamos Gold by 45.1% during the 4th quarter. Bank of America Corp DE now owns 1,391,497 shares of the basic materials company's stock valued at $25,659,000 after buying an additional 432,641 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its stake in shares of Alamos Gold by 0.3% during the 4th quarter. Baird Financial Group Inc. now owns 181,611 shares of the basic materials company's stock valued at $3,349,000 after buying an additional 614 shares in the last quarter. Hedge funds and other institutional investors own 64.33% of the company's stock.

Alamos Gold Price Performance

Shares of AGI stock traded up $0.66 on Friday, reaching $32.21. The company's stock had a trading volume of 2,919,191 shares, compared to its average volume of 3,458,564. The company has a quick ratio of 1.00, a current ratio of 1.49 and a debt-to-equity ratio of 0.07. Alamos Gold Inc. has a 12-month low of $17.42 and a 12-month high of $32.50. The company has a market capitalization of $13.54 billion, a P/E ratio of 38.81, a PEG ratio of 0.70 and a beta of 0.55. The stock's 50 day simple moving average is $26.91 and its 200-day simple moving average is $26.34.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last issued its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. Alamos Gold had a return on equity of 10.67% and a net margin of 22.99%.The company had revenue of $438.20 million for the quarter, compared to the consensus estimate of $400.61 million. During the same quarter last year, the business posted $0.24 earnings per share. The firm's revenue was up 31.7% compared to the same quarter last year. As a group, equities analysts predict that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th will be given a dividend of $0.025 per share. The ex-dividend date is Thursday, September 11th. This represents a $0.10 annualized dividend and a dividend yield of 0.3%. Alamos Gold's dividend payout ratio (DPR) is 12.05%.

Analysts Set New Price Targets

Several research firms have issued reports on AGI. Stifel Nicolaus began coverage on Alamos Gold in a research report on Wednesday, July 9th. They set a "buy" rating on the stock. Wall Street Zen downgraded Alamos Gold from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. Stifel Canada upgraded Alamos Gold to a "strong-buy" rating in a research report on Tuesday, July 8th. CIBC restated an "outperform" rating on shares of Alamos Gold in a research report on Tuesday, July 15th. Finally, National Bankshares restated an "outperform" rating on shares of Alamos Gold in a research report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $30.38.

Alamos Gold 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.