Gabelli Funds LLC Trims Position in Alamos Gold Inc. $AGI

Gabelli Funds LLC lessened its stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 20.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 670,775 shares of the basic materials company’s stock after selling 174,800 shares during the quarter. Gabelli Funds LLC’s holdings in Alamos Gold were worth $25,878,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Van ECK Associates Corp grew its holdings in Alamos Gold by 35.3% during the 3rd 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 buying an additional 11,876,324 shares in the last quarter. Vanguard Group Inc. grew its holdings in Alamos Gold by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 17,565,941 shares of the basic materials company’s stock valued at $678,291,000 after buying an additional 332,335 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Alamos Gold by 6.3% during the 3rd quarter. Mackenzie Financial Corp now owns 9,547,541 shares of the basic materials company’s stock valued at $332,724,000 after buying an additional 567,926 shares in the last quarter. Invesco Ltd. grew its holdings in Alamos Gold by 23.4% during the 3rd quarter. Invesco Ltd. now owns 2,981,880 shares of the basic materials company’s stock valued at $103,948,000 after buying an additional 565,441 shares in the last quarter. Finally, Amundi grew its holdings in Alamos Gold by 23.5% during the 3rd quarter. Amundi now owns 2,964,424 shares of the basic materials company’s stock valued at $102,984,000 after buying an additional 563,528 shares in the last quarter. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Scotiabank lifted their price target on Alamos Gold from $55.00 to $60.00 and gave the company a “sector outperform” rating in a research report on Friday, February 6th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Alamos Gold in a research report on Wednesday, February 4th. Wall Street Zen downgraded Alamos Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 1st. Finally, Weiss Ratings downgraded Alamos Gold from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $50.67.

Alamos Gold Stock Performance

Shares of AGI opened at $40.28 on Tuesday. The company has a market cap of $16.92 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 0.52 and a beta of 0.50. The company has a current ratio of 2.01, a quick ratio of 1.61 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average price of $44.63 and a 200-day moving average price of $41.40. Alamos Gold Inc. has a 12-month low of $23.92 and a 12-month high of $55.41.

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

Alamos Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Thursday, March 12th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. 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 dividend payout ratio is presently 6.37%.

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.