Weiss Asset Management LP Sells 43,560 Shares of Alamos Gold Inc. $AGI

Weiss Asset Management LP lessened its stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 62.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 25,680 shares of the basic materials company’s stock after selling 43,560 shares during the quarter. Weiss Asset Management LP’s holdings in Alamos Gold were worth $1,141,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Goldman Sachs Group Inc. raised its holdings in 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 valued at $64,032,000 after acquiring an additional 1,227,695 shares during the period. Empowered Funds LLC bought a new stake in shares of Alamos Gold during the first quarter worth approximately $200,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Alamos Gold by 129.2% in 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 purchasing an additional 571,536 shares during the last quarter. Qube Research & Technologies Ltd grew its position in shares of Alamos Gold by 375.1% in 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 purchasing an additional 774,111 shares during the last quarter. Finally, Sei Investments Co. grew its position in shares of Alamos Gold by 6.9% in the second quarter. Sei Investments Co. now owns 403,217 shares of the basic materials company’s stock valued at $10,709,000 after purchasing an additional 26,045 shares during the last quarter. Institutional investors own 64.33% of the company’s stock.

Alamos Gold Stock Up 0.4%

Shares of AGI opened at $29.69 on Tuesday. Alamos Gold Inc. has a 12 month low of $23.92 and a 12 month high of $55.41. The firm’s 50 day moving average is $33.68 and its 200-day moving average is $40.64. The stock has a market capitalization of $12.43 billion, a PE ratio of 11.83, a P/E/G ratio of 0.38 and a beta of 0.55. The company has a current ratio of 2.01, a quick ratio of 1.61 and a debt-to-equity ratio of 0.05.

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 the consensus estimate of $0.54. The business had revenue of $596.70 million during the quarter, compared to analysts’ expectations of $612.35 million. Alamos Gold had a return on equity of 18.03% and a net margin of 51.24%.The firm’s revenue for the quarter was up 79.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.14 earnings per share. Equities research analysts forecast that Alamos Gold Inc. will post 2.19 EPS for the current year.

Alamos Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Thursday, June 11th. Alamos Gold’s dividend payout ratio is presently 6.37%.

Analysts Set New Price Targets

Several research firms recently weighed in on AGI. Bank of America dropped their price target on Alamos Gold from $50.00 to $39.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Jefferies Financial Group decreased their price objective on Alamos Gold from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Alamos Gold in a research report on Saturday, June 20th. Royal Bank Of Canada dropped their target price on Alamos Gold from $52.00 to $42.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Finally, Wall Street Zen raised shares of Alamos Gold from a “hold” rating to a “buy” rating in a research report on Saturday. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $47.50.

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.