CIBC Asset Management Inc Decreases Holdings in Alamos Gold Inc. $AGI

CIBC Asset Management Inc lowered its stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 26.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,201,334 shares of the basic materials company’s stock after selling 2,931,003 shares during the period. CIBC Asset Management Inc owned 1.95% of Alamos Gold worth $287,253,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AGI. Wealth Enhancement Advisory Services LLC grew its stake in Alamos Gold by 20.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 14,444 shares of the basic materials company’s stock valued at $390,000 after buying an additional 2,493 shares in the last quarter. Addenda Capital Inc. increased its stake in Alamos Gold by 12.3% in the 2nd quarter. Addenda Capital Inc. now owns 1,944,928 shares of the basic materials company’s stock worth $51,657,000 after acquiring an additional 212,918 shares during the last quarter. Calamos Wealth Management LLC purchased a new stake in Alamos Gold in the second quarter valued at approximately $3,070,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Alamos Gold during the 2nd quarter valued at $1,502,000. Finally, PCJ Investment Counsel Ltd. raised its position in Alamos Gold by 37.9% during the second quarter. PCJ Investment Counsel Ltd. now owns 85,740 shares of the basic materials company’s stock valued at $2,282,000 after purchasing an additional 23,560 shares in the last quarter. 64.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Jefferies Financial Group reissued a “buy” rating and set a $49.00 price target on shares of Alamos Gold in a research note on Sunday, December 7th. Wall Street Zen lowered Alamos Gold from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. TD Securities restated a “buy” rating on shares of Alamos Gold in a report on Monday, November 3rd. Zacks Research cut Alamos Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Finally, Weiss Ratings reissued a “buy (a)” rating on shares of Alamos Gold in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $43.00.

Alamos Gold Price Performance

NYSE AGI opened at $43.45 on Friday. The stock has a market capitalization of $18.24 billion, a price-to-earnings ratio of 33.94, a PEG ratio of 0.41 and a beta of 0.63. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.72 and a quick ratio of 1.33. The business’s fifty day moving average price is $38.32 and its 200-day moving average price is $33.06. Alamos Gold Inc. has a 1-year low of $19.74 and a 1-year high of $43.95.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings data on Wednesday, October 29th. The basic materials company reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. The firm had revenue of $462.30 million for the quarter, compared to analysts’ expectations of $490.96 million. Alamos Gold had a net margin of 33.46% and a return on equity of 12.36%. The business’s quarterly revenue was up 28.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.19 EPS. On average, equities analysts predict that Alamos Gold Inc. will post 1.29 earnings per share for the current year.

Alamos Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were given a dividend of $0.025 per share. The ex-dividend date was Thursday, December 4th. This represents a $0.10 annualized dividend and a yield of 0.2%. Alamos Gold’s payout ratio is 7.81%.

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.