VELA Investment Management LLC Lowers Stock Holdings in Alamos Gold Inc. $AGI

Key Points

• VELA Investment Management cut its Alamos Gold stake by 24.1% in Q4, selling 36,841 shares and finishing the quarter with 116,144 shares worth $4.48M (about 1.1% of VELA’s holdings and its 24th-largest position).
• Several major institutions boosted or initiated positions—most notably VanEck (now 45,544,137 shares, up 35.3%, ~$1.588B); Bank of America, Goldman Sachs and MFS also added sizable stakes, and institutions/hedge funds own 64.33% of AGI.
• Alamos reported QEPS of $0.54 (in line) with revenue up 79% YoY but slightly below estimates, raised its quarterly dividend to $0.04 ($0.16 annualized), and trades at a $16.55B market cap with a consensus analyst rating of Buy and $50.67 target.

VELA Investment Management LLC lessened its holdings in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 24.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 116,144 shares of the basic materials company's stock after selling 36,841 shares during the quarter. Alamos Gold accounts for about 1.1% of VELA Investment Management LLC's holdings, making the stock its 24th biggest position. VELA Investment Management LLC's holdings in Alamos Gold were worth $4,481,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in AGI. Van ECK Associates Corp boosted its holdings in Alamos Gold by 35.3% in the 3rd quarter. Van ECK Associates Corp now owns 45,544,137 shares of the basic materials company's stock valued at $1,587,666,000 after purchasing an additional 11,876,324 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Alamos Gold in the 4th quarter valued at approximately $72,410,000. Bank of America Corp DE boosted its holdings in Alamos Gold by 137.3% in the 3rd quarter. Bank of America Corp DE now owns 2,624,565 shares of the basic materials company's stock valued at $91,492,000 after purchasing an additional 1,518,374 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Alamos Gold by 105.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,394,604 shares of the basic materials company's stock valued at $64,032,000 after purchasing an additional 1,227,695 shares in the last quarter. Finally, Cannell & Spears LLC boosted its holdings in Alamos Gold by 512.4% in the 3rd quarter. Cannell & Spears LLC now owns 1,276,296 shares of the basic materials company's stock valued at $44,492,000 after purchasing an additional 1,067,883 shares in the last quarter. Hedge funds and other institutional investors own 64.33% of the company's stock.

Alamos Gold Price Performance

AGI stock opened at $39.42 on Friday. The firm has a 50 day moving average of $46.45 and a 200-day moving average of $40.72. Alamos Gold Inc. has a 12-month low of $23.75 and a 12-month high of $55.41. The company has a current ratio of 2.00, a quick ratio of 1.60 and a debt-to-equity ratio of 0.05. The company has a market cap of $16.55 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 0.54 and a beta of 0.50.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last issued its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. Alamos Gold had a return on equity of 18.61% 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 period in the previous year, the firm posted $0.14 EPS. The company's quarterly revenue was up 79.2% compared to the same quarter last year. As a group, equities analysts expect that Alamos Gold Inc. will post 2.45 EPS for the current fiscal year.

Alamos Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Thursday, March 12th were given a dividend of $0.04 per share. The ex-dividend date was Thursday, March 12th. This represents a $0.16 annualized dividend and a dividend yield of 0.4%. This is an increase from Alamos Gold's previous quarterly dividend of $0.03. Alamos Gold's payout ratio is presently 6.37%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AGI. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Alamos Gold in a report on Wednesday, February 4th. Wall Street Zen lowered Alamos Gold from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 1st. Weiss Ratings lowered Alamos Gold from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday. Finally, Scotiabank lifted their price target on shares of Alamos Gold from $55.00 to $60.00 and gave the company a "sector outperform" rating in a research report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $50.67.

About Alamos Gold

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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