Herr Investment Group LLC Sells 100,000 Shares of Alamos Gold Inc. (NYSE:AGI)

Herr Investment Group LLC decreased its stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 12.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 735,795 shares of the basic materials company’s stock after selling 100,000 shares during the period. Alamos Gold accounts for 0.8% of Herr Investment Group LLC’s portfolio, making the stock its 10th largest position. Herr Investment Group LLC owned about 0.18% of Alamos Gold worth $11,537,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co raised its position in shares of Alamos Gold by 131.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 97,403 shares of the basic materials company’s stock worth $1,434,000 after buying an additional 55,352 shares during the period. National Bank of Canada FI raised its holdings in shares of Alamos Gold by 3.4% in the 1st quarter. National Bank of Canada FI now owns 1,394,930 shares of the basic materials company’s stock worth $21,824,000 after purchasing an additional 45,412 shares during the period. Vanguard Group Inc. lifted its stake in shares of Alamos Gold by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 14,419,042 shares of the basic materials company’s stock valued at $194,224,000 after purchasing an additional 216,280 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Alamos Gold by 71.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,588,581 shares of the basic materials company’s stock worth $97,183,000 after purchasing an additional 2,756,759 shares during the period. Finally, Russell Investments Group Ltd. increased its position in Alamos Gold by 66.2% during the 1st quarter. Russell Investments Group Ltd. now owns 191,746 shares of the basic materials company’s stock worth $2,829,000 after purchasing an additional 76,379 shares in the last quarter. Institutional investors and hedge funds own 64.33% of the company’s stock.

Analyst Upgrades and Downgrades

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

Alamos Gold Stock Up 0.5 %

AGI stock opened at $20.30 on Friday. The stock’s 50 day moving average is $18.36 and its two-hundred day moving average is $16.37. Alamos Gold Inc. has a 52-week low of $10.78 and a 52-week high of $21.14. The company has a market capitalization of $8.10 billion, a PE ratio of 39.04, a P/E/G ratio of 0.82 and a beta of 1.18.

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

Alamos Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.10 annualized dividend and a dividend yield of 0.49%. Alamos Gold’s dividend payout ratio is currently 19.23%.

Alamos Gold 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.