Moors & Cabot Inc. Sells 9,998 Shares of Alamos Gold Inc. (NYSE:AGI)

Moors & Cabot Inc. decreased its position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 11.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,553 shares of the basic materials company’s stock after selling 9,998 shares during the period. Moors & Cabot Inc.’s holdings in Alamos Gold were worth $1,185,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of AGI. Baldwin Brothers LLC MA bought a new position in Alamos Gold during the second quarter worth about $47,000. Daiwa Securities Group Inc. bought a new position in shares of Alamos Gold during the second quarter worth approximately $48,000. St. Johns Investment Management Company LLC acquired a new stake in shares of Alamos Gold in the first quarter valued at approximately $115,000. Coppell Advisory Solutions Corp. bought a new stake in shares of Alamos Gold in the first quarter valued at approximately $203,000. Finally, Mark Sheptoff Financial Planning LLC acquired a new stake in Alamos Gold during the fourth quarter worth approximately $216,000. Institutional investors and hedge funds own 64.33% of the company’s stock.

Alamos Gold Trading Down 1.2 %

Shares of NYSE AGI opened at $20.20 on Thursday. The stock has a 50-day moving average price of $18.30 and a two-hundred day moving average price of $16.34. Alamos Gold Inc. has a 12 month low of $10.78 and a 12 month high of $21.14. The company has a market cap of $8.07 billion, a price-to-earnings ratio of 38.85, a PEG ratio of 0.82 and a beta of 1.18.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. Alamos Gold had a net margin of 17.73% and a return on equity of 8.52%. The business had revenue of $332.60 million during the quarter, compared to analysts’ expectations of $282.78 million. During the same period in the prior year, the company earned $0.15 EPS. The firm’s quarterly revenue was up 27.4% compared to the same quarter last year. On average, sell-side analysts predict that Alamos Gold Inc. will post 0.75 earnings per share for the current year.

Alamos Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend is Thursday, September 12th. Alamos Gold’s dividend payout ratio (DPR) is 19.23%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Royal Bank of Canada upped their target price on Alamos Gold from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Scotiabank upped their price objective on shares of Alamos Gold from $20.00 to $22.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Jefferies Financial Group raised their target price on shares of Alamos Gold from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, September 13th. Finally, National Bank Financial downgraded shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a report on Sunday, September 8th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.81.

Alamos Gold Company Profile

Alamos Gold Inc engages in the acquisition, exploration, development, and extraction of precious metals in Canada and Mexico. The company primarily explores for gold deposits. It holds 100% interest in the Young-Davidson mine and Island Gold mine located in the Ontario, Canada; Mulatos mine located in the Sonora, Mexico; and Lynn Lake project situated in the Manitoba, Canada.