Forge First Asset Management Inc. Reduces Stake in Alamos Gold Inc. $AGI

Forge First Asset Management Inc. reduced its stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 55.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 153,300 shares of the basic materials company’s stock after selling 189,059 shares during the period. Alamos Gold accounts for about 2.5% of Forge First Asset Management Inc.’s holdings, making the stock its 17th largest position. Forge First Asset Management Inc.’s holdings in Alamos Gold were worth $5,343,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. 1620 Investment Advisors Inc. bought a new position in shares of Alamos Gold during the 3rd quarter valued at approximately $35,000. EverSource Wealth Advisors LLC lifted its position in Alamos Gold by 69.6% in the third quarter. EverSource Wealth Advisors LLC now owns 1,416 shares of the basic materials company’s stock worth $49,000 after buying an additional 581 shares during the last quarter. Bessemer Group Inc. purchased a new position in Alamos Gold during the second quarter worth $90,000. Skandinaviska Enskilda Banken AB publ bought a new position in Alamos Gold during the second quarter valued at $98,000. Finally, Employees Retirement System of Texas bought a new position in Alamos Gold during the second quarter valued at $112,000. 64.33% of the stock is owned by institutional investors.

Alamos Gold Price Performance

NYSE AGI opened at $52.43 on Friday. The firm’s fifty day simple moving average is $42.14 and its two-hundred day simple moving average is $36.03. The firm has a market capitalization of $22.01 billion, a P/E ratio of 24.97, a P/E/G ratio of 0.48 and a beta of 0.61. The company has a current ratio of 2.00, a quick ratio of 1.60 and a debt-to-equity ratio of 0.05. Alamos Gold Inc. has a 12-month low of $22.03 and a 12-month high of $52.48.

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

Alamos Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be given a dividend of $0.04 per share. This is a boost from Alamos Gold’s previous quarterly dividend of $0.03. This represents a $0.16 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Thursday, March 12th. Alamos Gold’s payout ratio is presently 4.76%.

Analyst Ratings Changes

A number of equities analysts recently commented on AGI shares. Wall Street Zen raised shares of Alamos Gold from a “hold” rating to a “strong-buy” rating in a research note on Saturday, February 21st. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a research note on Wednesday, February 4th. Zacks Research cut Alamos Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Jefferies Financial Group reiterated a “buy” rating and issued a $49.00 price target on shares of Alamos Gold in a report on Sunday, December 7th. Finally, Scotiabank boosted their price objective on Alamos Gold from $55.00 to $60.00 and gave the company a “sector outperform” rating in a report on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $45.50.

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.