Oak Ridge Investments LLC Decreases Stock Position in Alamos Gold Inc. $AGI

Oak Ridge Investments LLC lowered its stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 40.5% during the 4th quarter, Holdings Channel reports. The firm owned 38,923 shares of the basic materials company’s stock after selling 26,510 shares during the quarter. Oak Ridge Investments LLC’s holdings in Alamos Gold were worth $1,502,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of AGI. Van ECK Associates Corp lifted its stake in Alamos Gold by 35.3% in the 3rd quarter. Van ECK Associates Corp now owns 45,544,137 shares of the basic materials company’s stock worth $1,587,666,000 after purchasing an additional 11,876,324 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Alamos Gold in the 4th quarter worth $72,410,000. Bank of America Corp DE lifted its stake in Alamos Gold by 137.3% in the 3rd quarter. Bank of America Corp DE now owns 2,624,565 shares of the basic materials company’s stock worth $91,492,000 after purchasing an additional 1,518,374 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in 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 worth $64,032,000 after purchasing an additional 1,227,695 shares in the last quarter. Finally, Cannell & Spears LLC lifted its stake in Alamos Gold by 512.4% in the 3rd quarter. Cannell & Spears LLC now owns 1,276,296 shares of the basic materials company’s stock worth $44,492,000 after purchasing an additional 1,067,883 shares in the last quarter. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on AGI. Wall Street Zen cut shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 1st. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Alamos Gold in a report on Wednesday, February 4th. Scotiabank boosted their target price on shares of Alamos Gold from $55.00 to $60.00 and gave the stock a “sector outperform” rating in a report on Friday, February 6th. Finally, Weiss Ratings downgraded shares of Alamos Gold from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $50.67.

Alamos Gold Stock Performance

Alamos Gold stock opened at $48.23 on Tuesday. The company’s 50-day moving average price is $45.84 and its 200-day moving average price is $39.75. Alamos Gold Inc. has a twelve month low of $23.75 and a twelve month high of $55.41. The company has a quick ratio of 1.60, a current ratio of 2.00 and a debt-to-equity ratio of 0.05. The company has a market cap of $20.25 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 0.67 and a beta of 0.63.

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

Alamos Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Thursday, March 12th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.3%. The ex-dividend date was Thursday, March 12th. This is a positive change from Alamos Gold’s previous quarterly dividend of $0.03. Alamos Gold’s payout ratio is currently 7.62%.

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.