Principal Financial Group Inc. Reduces Stock Holdings in Alamos Gold Inc. (NYSE:AGI)

Principal Financial Group Inc. lessened its stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 4.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,675,500 shares of the basic materials company’s stock after selling 69,710 shares during the period. Principal Financial Group Inc. owned approximately 0.40% of Alamos Gold worth $26,277,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AGI. Baldwin Brothers LLC MA purchased a new stake in shares of Alamos Gold in the second quarter valued at $47,000. AJOVista LLC bought a new stake in Alamos Gold in the fourth quarter worth about $83,000. Venturi Wealth Management LLC boosted its position in shares of Alamos Gold by 20.7% during the first quarter. Venturi Wealth Management LLC now owns 7,000 shares of the basic materials company’s stock valued at $103,000 after buying an additional 1,200 shares during the period. St. Johns Investment Management Company LLC purchased a new position in shares of Alamos Gold during the first quarter valued at approximately $115,000. Finally, Coppell Advisory Solutions Corp. bought a new position in shares of Alamos Gold during the first quarter valued at approximately $203,000. 64.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Scotiabank raised their price target on Alamos Gold from $20.00 to $22.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Jefferies Financial Group boosted their target price on shares of Alamos Gold from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Finally, StockNews.com raised shares of Alamos Gold from a “hold” rating to a “buy” rating in a research note on Thursday, May 16th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.06.

Alamos Gold Trading Up 0.6 %

Shares of Alamos Gold stock opened at $19.28 on Monday. Alamos Gold Inc. has a 12 month low of $10.78 and a 12 month high of $20.24. The stock’s fifty day moving average price is $17.47 and its 200-day moving average price is $15.69. The firm has a market cap of $8.09 billion, a P/E ratio of 37.08, a P/E/G ratio of 0.83 and a beta of 1.16.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.19 by $0.05. Alamos Gold had a net margin of 17.73% and a return on equity of 8.52%. The business had revenue of $332.60 million during the quarter, compared to analyst estimates of $282.78 million. During the same quarter in the previous year, the business posted $0.15 EPS. The company’s quarterly revenue was up 27.4% compared to the same quarter last year. Analysts forecast that Alamos Gold Inc. will post 0.75 earnings per share for the current year.

Alamos Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be issued a dividend of $0.025 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.10 dividend on an annualized basis and a yield of 0.52%. Alamos Gold’s dividend payout ratio is currently 19.23%.

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.