Manatuck Hill Partners LLC Trims Stake in Alamos Gold Inc. $AGI

Manatuck Hill Partners LLC reduced its holdings in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 22.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,000 shares of the basic materials company’s stock after selling 20,000 shares during the period. Manatuck Hill Partners LLC’s holdings in Alamos Gold were worth $2,701,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AGI. Goldman Sachs Group Inc. increased its holdings in Alamos Gold by 105.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,394,604 shares of the basic materials company’s stock valued at $64,032,000 after buying an additional 1,227,695 shares during the last quarter. Empowered Funds LLC purchased a new stake in Alamos Gold during the first quarter valued at approximately $200,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Alamos Gold by 129.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,013,866 shares of the basic materials company’s stock valued at $27,111,000 after buying an additional 571,536 shares during the last quarter. Qube Research & Technologies Ltd increased its holdings in Alamos Gold by 375.1% during the second quarter. Qube Research & Technologies Ltd now owns 980,474 shares of the basic materials company’s stock valued at $26,042,000 after buying an additional 774,111 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in Alamos Gold by 6.9% during the second quarter. Sei Investments Co. now owns 403,217 shares of the basic materials company’s stock valued at $10,709,000 after buying an additional 26,045 shares during the last quarter. 64.33% of the stock is owned by hedge funds and other institutional investors.

Alamos Gold Price Performance

Shares of NYSE:AGI opened at $37.33 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.61 and a current ratio of 2.01. The firm has a fifty day moving average price of $41.59 and a 200 day moving average price of $42.17. 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 cap of $15.65 billion, a price-to-earnings ratio of 14.87, a P/E/G ratio of 0.50 and a beta of 0.49.

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, hitting analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $612.35 million. During the same quarter in the prior year, the business earned $0.14 earnings per share. Alamos Gold’s revenue for the quarter was up 79.2% on a year-over-year basis. As a group, sell-side analysts expect that Alamos Gold Inc. will post 2.46 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 11th will be given a dividend of $0.04 per share. The ex-dividend date is Thursday, June 11th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. Alamos Gold’s dividend payout ratio is currently 6.37%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AGI. Weiss Ratings cut shares of Alamos Gold from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, May 1st. 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. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Alamos Gold currently has a consensus rating of “Buy” and a consensus price target of $50.67.

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.