Van ECK Associates Corp Cuts Position in Alamos Gold Inc. $AGI

Van ECK Associates Corp lessened its stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 10.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,777,038 shares of the basic materials company’s stock after selling 4,767,099 shares during the quarter. Alamos Gold accounts for 1.3% of Van ECK Associates Corp’s investment portfolio, making the stock its 20th largest position. Van ECK Associates Corp owned approximately 9.71% of Alamos Gold worth $1,573,189,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Atlantic Union Bankshares Corp purchased a new position in Alamos Gold during the 4th quarter valued at about $25,000. Clearstead Advisors LLC increased its holdings in Alamos Gold by 62.8% during the 4th quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 251 shares in the last quarter. Bayforest Capital Ltd purchased a new position in Alamos Gold during the 4th quarter valued at about $44,000. EverSource Wealth Advisors LLC increased its holdings in Alamos Gold by 69.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,416 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 581 shares in the last quarter. Finally, State of Wyoming purchased a new position in Alamos Gold during the 4th quarter valued at about $71,000. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AGI shares. Weiss Ratings downgraded shares of Alamos Gold from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, May 1st. Wall Street Zen downgraded shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 1st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alamos Gold presently has a consensus rating of “Buy” and an average price target of $50.67.

Alamos Gold Stock Performance

NYSE:AGI opened at $35.16 on Friday. The company has a market capitalization of $14.74 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 0.44 and a beta of 0.49. Alamos Gold Inc. has a twelve month low of $23.92 and a twelve month high of $55.41. 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 firm has a 50-day moving average price of $42.09 and a two-hundred day moving average price of $42.08.

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

Alamos Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th will be issued 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 0.5%. Alamos Gold’s payout ratio is 6.37%.

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.