Verbena Value LP Raises Stock Holdings in Alamos Gold Inc. $AGI

Key Points

• Verbena Value LP boosted its stake in Alamos Gold by 44.7% in the first quarter, buying an additional 285,200 shares and bringing its total to 923,200 shares worth about $41.0 million.
• Several other institutional investors also adjusted their positions, and 64.33% of Alamos Gold’s stock is owned by hedge funds and other institutions.
• Analysts remain mostly positive despite trimming targets: the stock has a Moderate Buy consensus, with 10 Buy ratings and one Hold, and an average price target of $47.50.

Verbena Value LP increased its holdings in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 44.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 923,200 shares of the basic materials company's stock after purchasing an additional 285,200 shares during the period. Alamos Gold accounts for 6.7% of Verbena Value LP's holdings, making the stock its 7th biggest holding. Verbena Value LP owned 0.22% of Alamos Gold worth $41,018,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AGI. Atlantic Union Bankshares Corp purchased a new position in Alamos Gold during the fourth quarter valued at $25,000. Clearstead Advisors LLC lifted its position in shares of Alamos Gold by 62.7% in the fourth quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company's stock worth $25,000 after buying an additional 251 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Alamos Gold by 44.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 722 shares of the basic materials company's stock worth $28,000 after buying an additional 222 shares in the last quarter. Bayforest Capital Ltd bought a new position in Alamos Gold during the fourth quarter valued at approximately $44,000. Finally, State of Wyoming bought a new position in Alamos Gold during the fourth quarter valued at approximately $71,000. 64.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Bank of America reduced their price objective on Alamos Gold from $50.00 to $39.00 and set a "buy" rating on the stock in a research note on Thursday. Jefferies Financial Group lowered their target price on Alamos Gold from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Monday, July 6th. Weiss Ratings lowered shares of Alamos Gold from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 23rd. Royal Bank Of Canada reduced their price target on shares of Alamos Gold from $52.00 to $42.00 and set an "outperform" rating on the stock in a research report on Thursday. Finally, Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Alamos Gold in a research report on Saturday, June 20th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Alamos Gold currently has an average rating of "Moderate Buy" and a consensus price target of $47.50.

Alamos Gold Price Performance

Shares of AGI stock opened at $29.44 on Monday. The stock has a 50 day moving average price of $36.53 and a 200 day moving average price of $41.45. Alamos Gold Inc. has a 52-week low of $23.92 and a 52-week high of $55.41. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.61 and a current ratio of 2.01. The firm has a market capitalization of $12.32 billion, a P/E ratio of 11.73, a P/E/G ratio of 0.38 and a beta of 0.55.

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

Alamos Gold Dividend Announcement

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

Alamos Gold Company 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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