Allianz SE Sells 10,456 Shares of Alamos Gold Inc. $AGI

Allianz SE decreased its position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 15.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,105 shares of the basic materials company’s stock after selling 10,456 shares during the period. Allianz SE’s holdings in Alamos Gold were worth $1,921,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. 1620 Investment Advisors Inc. bought a new position in shares of Alamos Gold in the third quarter worth about $35,000. EverSource Wealth Advisors LLC boosted its stake in Alamos Gold by 69.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,416 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 581 shares during the period. Bessemer Group Inc. acquired a new stake in Alamos Gold in the 2nd quarter valued at approximately $90,000. Skandinaviska Enskilda Banken AB publ bought a new position in Alamos Gold in the 2nd quarter worth approximately $98,000. Finally, Employees Retirement System of Texas acquired a new position in shares of Alamos Gold during the second quarter worth approximately $112,000. 64.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a research report on Wednesday, February 4th. Jefferies Financial Group reissued a “buy” rating and issued a $49.00 price target on shares of Alamos Gold in a report on Sunday, December 7th. Desjardins began coverage on shares of Alamos Gold in a research report on Friday, November 28th. They issued a “buy” rating on the stock. TD Securities restated a “buy” rating on shares of Alamos Gold in a report on Monday, November 3rd. Finally, Zacks Research cut shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $45.50.

Alamos Gold Trading Up 3.5%

Shares of AGI opened at $54.27 on Friday. The company has a current ratio of 2.00, a quick ratio of 1.60 and a debt-to-equity ratio of 0.05. The stock has a market cap of $22.79 billion, a PE ratio of 25.84, a PEG ratio of 0.50 and a beta of 0.61. Alamos Gold Inc. has a 1 year low of $22.03 and a 1 year high of $54.37. The stock has a 50 day simple moving average of $42.45 and a 200-day simple moving average of $36.23.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.49 by $0.05. Alamos Gold had a return on equity of 14.83% and a net margin of 48.97%.The business had revenue of $575.30 million for the quarter, compared to analyst estimates of $596.18 million. During the same quarter in the previous year, the firm earned $0.25 EPS. Alamos Gold’s quarterly revenue was up 53.1% on a year-over-year basis. On average, sell-side analysts predict that Alamos Gold Inc. will post 1.29 EPS for the current fiscal year.

Alamos Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be paid a $0.04 dividend. The ex-dividend date is Thursday, March 12th. This represents a $0.16 annualized dividend and a dividend yield of 0.3%. This is a boost from Alamos Gold’s previous quarterly dividend of $0.03. Alamos Gold’s dividend payout ratio is presently 4.76%.

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.