Weiss Asset Management LP Sells 43,560 Shares of Alamos Gold Inc. $AGI

Key Points

• Weiss Asset Management reduced its Alamos Gold stake by 62.9%, selling 43,560 shares and retaining 25,680 shares valued at approximately $1.14 million. Institutional investors collectively own 64.33% of the company.
• Alamos Gold reported quarterly earnings of $0.54 per share, matching estimates, while revenue rose 79.2% year over year to $596.7 million. The company also maintains a quarterly dividend of $0.04 per share, equivalent to a 0.5% yield.
• Analysts remain broadly positive, with nine Buy ratings and two Holds, though several firms recently lowered their price targets. The stock has a consensus “Moderate Buy” rating and an average target of $47.50.

Weiss Asset Management LP cut its holdings in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 62.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,680 shares of the basic materials company's stock after selling 43,560 shares during the period. Weiss Asset Management LP's holdings in Alamos Gold were worth $1,141,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Goldman Sachs Group Inc. grew its position in Alamos Gold by 105.2% in the first 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. Empowered Funds LLC bought a new stake in Alamos Gold during the 1st quarter worth about $200,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Alamos Gold by 129.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,013,866 shares of the basic materials company's stock worth $27,111,000 after buying an additional 571,536 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of Alamos Gold by 375.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 980,474 shares of the basic materials company's stock worth $26,042,000 after buying an additional 774,111 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Alamos Gold by 6.9% in the 2nd quarter. Sei Investments Co. now owns 403,217 shares of the basic materials company's stock valued at $10,709,000 after acquiring an additional 26,045 shares in the last quarter. Institutional investors own 64.33% of the company's stock.

Alamos Gold Trading Up 0.4%

Shares of NYSE:AGI opened at $29.69 on Tuesday. 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 company has a market capitalization of $12.43 billion, a P/E ratio of 11.83, a price-to-earnings-growth ratio of 0.38 and a beta of 0.55. The company has a 50-day simple moving average of $33.68 and a 200 day simple moving average of $40.64.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last announced its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share for the quarter, hitting analysts' consensus estimates of $0.54. The firm had revenue of $596.70 million for the quarter, compared to the consensus estimate of $612.35 million. Alamos Gold had a return on equity of 18.03% and a net margin of 51.24%.The business's revenue was up 79.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.14 earnings per share. Sell-side analysts forecast that Alamos Gold Inc. will post 2.19 earnings per share for the current year.

Alamos Gold Announces Dividend

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

Wall Street Analyst Weigh In

AGI has been the subject of several recent research reports. Weiss Ratings cut Alamos Gold from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday. Bank of America lowered their price target on Alamos Gold from $50.00 to $39.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Royal Bank Of Canada dropped their price objective on Alamos Gold from $52.00 to $42.00 and set an "outperform" rating on the stock in a research note on Thursday, July 9th. Canadian Imperial Bank of Commerce reissued 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 report on Monday, July 6th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.50.

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.

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