Arrowstreet Capital Limited Partnership Has $319 Million Stock Holdings in Alamos Gold Inc. $AGI

Arrowstreet Capital Limited Partnership reduced its stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 21.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,173,842 shares of the basic materials company’s stock after selling 1,921,212 shares during the period. Arrowstreet Capital Limited Partnership owned 1.71% of Alamos Gold worth $318,999,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of AGI. Atlantic Union Bankshares Corp bought a new stake in shares of Alamos Gold during the fourth quarter worth approximately $25,000. Clearstead Advisors LLC boosted its stake in Alamos Gold by 62.7% in the 4th quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 251 shares during the period. Smartleaf Asset Management LLC grew its holdings in Alamos Gold by 44.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 722 shares of the basic materials company’s stock valued at $28,000 after buying an additional 222 shares in the last quarter. Parallel Advisors LLC acquired a new position in Alamos Gold in the 1st quarter valued at $35,000. Finally, Bayforest Capital Ltd bought a new position in Alamos Gold during the 4th quarter worth $44,000. 64.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group reduced their target price on shares of Alamos Gold from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Royal Bank Of Canada dropped their price objective on shares of Alamos Gold from $52.00 to $42.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a report on Saturday, June 20th. Weiss Ratings lowered shares of Alamos Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Finally, Wall Street Zen raised shares of Alamos Gold from a “hold” rating to a “buy” rating in a report on Saturday. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.50.

Alamos Gold Stock Performance

NYSE AGI opened at $29.59 on Friday. The firm’s 50 day simple moving average is $33.90 and its 200 day simple moving average is $40.71. The firm has a market capitalization of $12.39 billion, a price-to-earnings ratio of 11.79, a P/E/G ratio of 0.38 and a beta of 0.55. The company has a current ratio of 2.01, a quick ratio of 1.61 and a debt-to-equity ratio of 0.05. Alamos Gold Inc. has a 1 year low of $23.92 and a 1 year high of $55.41.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $0.54 EPS 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 business had revenue of $596.70 million during the quarter, compared to the consensus estimate of $612.35 million. During the same period in the previous year, the business earned $0.14 earnings per share. The company’s revenue was up 79.2% on a year-over-year basis. As a group, research analysts expect that Alamos Gold Inc. will post 2.19 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Thursday, June 11th. Alamos Gold’s payout ratio is currently 6.37%.

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.