Generate Investment Management Ltd Has $33.32 Million Stock Holdings in Alamos Gold Inc. $AGI

Generate Investment Management Ltd trimmed its position in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 37.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 750,000 shares of the basic materials company’s stock after selling 450,000 shares during the quarter. Alamos Gold comprises approximately 1.6% of Generate Investment Management Ltd’s portfolio, making the stock its 13th largest holding. Generate Investment Management Ltd’s holdings in Alamos Gold were worth $33,322,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AGI. Van ECK Associates Corp grew its stake in Alamos Gold by 35.3% in the third quarter. Van ECK Associates Corp now owns 45,544,137 shares of the basic materials company’s stock valued at $1,587,666,000 after acquiring an additional 11,876,324 shares during the period. Norges Bank acquired a new position in shares of Alamos Gold during the fourth quarter worth approximately $219,475,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Alamos Gold during the fourth quarter worth approximately $72,410,000. Bank of America Corp DE lifted its holdings in shares of 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. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of 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. 64.33% of the stock is owned by institutional investors and hedge funds.

Alamos Gold Stock Performance

Shares of Alamos Gold stock opened at $31.98 on Tuesday. Alamos Gold Inc. has a 52 week low of $23.92 and a 52 week high of $55.41. The company has a quick ratio of 1.61, a current ratio of 2.01 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average price of $40.86 and a 200-day moving average price of $42.12. The company has a market cap of $13.41 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 0.47 and a beta of 0.49.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its earnings results on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. Alamos Gold had a return on equity of 18.03% and a net margin of 51.24%.The company had revenue of $596.70 million for the quarter, compared to analysts’ expectations of $612.35 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. Alamos Gold’s quarterly revenue was up 79.2% on a year-over-year basis. Equities analysts anticipate that Alamos Gold Inc. will post 2.46 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th will be paid a dividend of $0.04 per share. The ex-dividend date is Thursday, June 11th. This represents a $0.16 annualized dividend and a yield of 0.5%. Alamos Gold’s dividend payout ratio (DPR) is 6.37%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 1st. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Alamos Gold in a report on Saturday. Weiss Ratings lowered shares of Alamos Gold from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Finally, Bank of America reduced their price objective on shares of Alamos Gold from $57.00 to $50.00 and set a “buy” rating for the company in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $53.00.

Alamos Gold 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.