Ashton Thomas Private Wealth LLC Cuts Position in Alamos Gold Inc. $AGI

Ashton Thomas Private Wealth LLC trimmed its holdings in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 71.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,970 shares of the basic materials company’s stock after selling 36,735 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Alamos Gold were worth $522,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Allianz Asset Management GmbH boosted its position in Alamos Gold by 0.3% in the third quarter. Allianz Asset Management GmbH now owns 197,376 shares of the basic materials company’s stock worth $6,881,000 after purchasing an additional 543 shares during the last quarter. Keybank National Association OH raised its stake in shares of Alamos Gold by 9.8% during the 3rd quarter. Keybank National Association OH now owns 12,861 shares of the basic materials company’s stock worth $448,000 after purchasing an additional 1,148 shares during the period. Arizona State Retirement System purchased a new position in shares of Alamos Gold in the 3rd quarter worth about $257,000. TD Waterhouse Canada Inc. grew its position in Alamos Gold by 11.4% during the third quarter. TD Waterhouse Canada Inc. now owns 99,368 shares of the basic materials company’s stock valued at $3,485,000 after buying an additional 10,143 shares during the period. Finally, Red Cedar Investment Management LLC grew its position in Alamos Gold by 4.6% during the third quarter. Red Cedar Investment Management LLC now owns 159,375 shares of the basic materials company’s stock valued at $5,556,000 after buying an additional 6,961 shares during the period. 64.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on AGI shares. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Alamos Gold in a research report on Monday, December 29th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $49.00 price target on shares of Alamos Gold in a report on Sunday, December 7th. Zacks Research downgraded Alamos Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Desjardins initiated coverage on Alamos Gold in a research report on Friday, November 28th. They issued a “buy” rating for the company. Finally, Scotiabank boosted their target price on Alamos Gold from $55.00 to $60.00 and gave the company a “sector outperform” rating in a research note on Friday. Three 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $45.50.

Alamos Gold Stock Up 6.7%

AGI opened at $40.19 on Monday. Alamos Gold Inc. has a 12 month low of $21.95 and a 12 month high of $45.18. The company has a market cap of $16.87 billion, a PE ratio of 31.40, a price-to-earnings-growth ratio of 0.34 and a beta of 0.61. The company has a current ratio of 1.72, a quick ratio of 1.33 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average of $39.46 and a 200 day moving average of $34.12.

Alamos Gold Dividend Announcement

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

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.