AGF Management Ltd. Decreases Holdings in Alamos Gold Inc. $AGI

AGF Management Ltd. reduced its position in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 40.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 310,004 shares of the basic materials company’s stock after selling 211,685 shares during the quarter. AGF Management Ltd. owned about 0.07% of Alamos Gold worth $10,806,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Keybank National Association OH boosted its position in shares of Alamos Gold by 9.8% in 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 in the last quarter. Arizona State Retirement System acquired a new position in Alamos Gold during the 3rd quarter valued at about $257,000. TD Waterhouse Canada Inc. raised its stake in Alamos Gold by 11.4% in 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 last quarter. Red Cedar Investment Management LLC raised its stake in Alamos Gold by 4.6% in 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 last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in Alamos Gold by 6.6% in the third quarter. B. Riley Wealth Advisors Inc. now owns 124,325 shares of the basic materials company’s stock worth $4,334,000 after acquiring an additional 7,723 shares in the last quarter. 64.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AGI has been the topic of several recent analyst reports. Desjardins initiated coverage on shares of Alamos Gold in a report on Friday, November 28th. They set a “buy” rating on the stock. Wall Street Zen lowered shares of Alamos Gold from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Scotiabank raised their price target on shares of Alamos Gold from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Jefferies Financial Group reiterated a “buy” rating and set a $49.00 price objective on shares of Alamos Gold in a research note on Sunday, December 7th. Finally, Weiss Ratings reissued a “buy (a)” rating on shares of Alamos Gold in a research report on Monday, December 29th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Alamos Gold has an average rating of “Buy” and a consensus price target of $44.25.

Alamos Gold Price Performance

Shares of NYSE:AGI opened at $36.74 on Tuesday. Alamos Gold Inc. has a twelve month low of $20.98 and a twelve month high of $45.18. 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 market cap of $15.42 billion, a PE ratio of 28.70, a price-to-earnings-growth ratio of 0.33 and a beta of 0.61. The company’s 50 day moving average is $39.24 and its 200 day moving average is $33.74.

Alamos Gold Announces Dividend

The firm also recently announced 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. This represents a $0.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, December 4th. Alamos Gold’s dividend payout ratio (DPR) 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.