VELA Investment Management LLC Trims Holdings in Alamos Gold Inc. (NYSE:AGI)

VELA Investment Management LLC cut its holdings in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 16.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 167,907 shares of the basic materials company's stock after selling 31,890 shares during the quarter. Alamos Gold accounts for 1.4% of VELA Investment Management LLC's holdings, making the stock its 16th largest position. VELA Investment Management LLC's holdings in Alamos Gold were worth $4,490,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the company. Sunbelt Securities Inc. acquired a new stake in Alamos Gold in the first quarter valued at approximately $41,000. Cutler Capital Management LLC acquired a new stake in Alamos Gold in the fourth quarter valued at approximately $108,000. Daiwa Securities Group Inc. acquired a new stake in Alamos Gold in the fourth quarter valued at approximately $136,000. Coppell Advisory Solutions LLC boosted its position in Alamos Gold by 14.4% in the fourth quarter. Coppell Advisory Solutions LLC now owns 10,011 shares of the basic materials company's stock valued at $181,000 after buying an additional 1,260 shares in the last quarter. Finally, NBT Bank N A NY acquired a new position in shares of Alamos Gold during the first quarter worth $190,000. 64.33% of the stock is owned by institutional investors.

Alamos Gold Trading Down 5.7%

Shares of AGI stock traded down $1.58 on Tuesday, hitting $26.14. 4,149,549 shares of the company's stock traded hands, compared to its average volume of 2,904,011. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.94 and a current ratio of 1.49. Alamos Gold Inc. has a one year low of $15.74 and a one year high of $31.00. The company's fifty day simple moving average is $26.33 and its 200 day simple moving average is $24.40. The stock has a market capitalization of $10.99 billion, a price-to-earnings ratio of 42.16, a P/E/G ratio of 0.53 and a beta of 0.54.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last posted its earnings results on Wednesday, April 30th. The basic materials company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.05). The company had revenue of $333.00 million during the quarter, compared to analysts' expectations of $324.98 million. Alamos Gold had a return on equity of 9.83% and a net margin of 18.36%. The company's revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 earnings per share. Equities analysts forecast that Alamos Gold Inc. will post 1.29 EPS for the current year.

Alamos Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.38%. The ex-dividend date was Thursday, June 12th. Alamos Gold's payout ratio is currently 16.13%.

Analyst Ratings Changes

A number of brokerages have recently commented on AGI. Scotiabank reiterated an "outperform" rating on shares of Alamos Gold in a report on Monday, April 14th. Wall Street Zen lowered shares of Alamos Gold from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Bank of America dropped their target price on shares of Alamos Gold from $31.00 to $30.50 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Royal Bank Of Canada boosted their target price on shares of Alamos Gold from $27.00 to $30.00 and gave the company an "outperform" rating in a report on Friday, April 4th. Finally, National Bank Financial upgraded shares of Alamos Gold to a "strong-buy" rating in a report on Friday, March 21st. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Alamos Gold presently has a consensus rating of "Moderate Buy" and an average price target of $30.38.

About Alamos Gold

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.