Amova Asset Management Americas Inc. Trims Stake in Alamos Gold Inc. $AGI

Amova Asset Management Americas Inc. cut its holdings in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 30.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 78,551 shares of the basic materials company’s stock after selling 35,045 shares during the quarter. Amova Asset Management Americas Inc.’s holdings in Alamos Gold were worth $3,491,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new position in Alamos Gold in the fourth quarter valued at about $219,475,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Alamos Gold during the fourth quarter valued at about $72,410,000. Bank of America Corp DE increased its position in shares of Alamos Gold by 137.3% during the third quarter. Bank of America Corp DE now owns 2,624,565 shares of the basic materials company’s stock valued at $91,492,000 after acquiring an additional 1,518,374 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Alamos Gold by 105.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,394,604 shares of the basic materials company’s stock valued at $64,032,000 after acquiring an additional 1,227,695 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Alamos Gold by 11.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 9,095,054 shares of the basic materials company’s stock valued at $351,072,000 after acquiring an additional 964,317 shares during the period. 64.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Scotiabank restated an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, July 14th. Bank of America dropped their price objective on Alamos Gold from $50.00 to $39.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Alamos Gold in a report on Saturday, June 20th. Jefferies Financial Group decreased their target price on Alamos Gold from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. Finally, Royal Bank Of Canada lowered their target price on Alamos Gold from $52.00 to $42.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

Alamos Gold Stock Up 4.8%

AGI stock opened at $29.51 on Wednesday. The company’s 50 day moving average price is $34.66 and its 200 day moving average price is $40.91. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.61 and a current ratio of 2.01. Alamos Gold Inc. has a fifty-two week low of $23.92 and a fifty-two week high of $55.41. The firm has a market capitalization of $12.35 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 0.36 and a beta of 0.55.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its earnings results on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. Alamos Gold had a net margin of 51.24% and a return on equity of 18.03%. The firm had revenue of $596.70 million for the quarter, compared to analysts’ expectations of $612.35 million. During the same quarter last year, the company earned $0.14 earnings per share. The firm’s revenue was up 79.2% compared to the same quarter last year. On average, equities research analysts anticipate that Alamos Gold Inc. will post 2.19 EPS for the current fiscal year.

Alamos Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Thursday, June 11th. Alamos Gold’s dividend payout ratio (DPR) 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.