Driehaus Capital Management LLC Lowers Stake in Alamos Gold Inc. (NYSE:AGI)

Driehaus Capital Management LLC lowered its stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 54.1% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,430,892 shares of the basic materials company’s stock after selling 1,688,059 shares during the period. Driehaus Capital Management LLC owned approximately 0.36% of Alamos Gold worth $22,436,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Baldwin Brothers LLC MA purchased a new position in shares of Alamos Gold during the 2nd quarter worth approximately $47,000. Daiwa Securities Group Inc. purchased a new position in shares of Alamos Gold during the 2nd quarter worth approximately $48,000. Employees Retirement System of Texas purchased a new position in shares of Alamos Gold during the 2nd quarter worth approximately $88,000. St. Johns Investment Management Company LLC purchased a new position in shares of Alamos Gold during the 1st quarter worth approximately $115,000. Finally, Coppell Advisory Solutions Corp. purchased a new position in shares of Alamos Gold during the 1st quarter worth approximately $203,000. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Alamos Gold Trading Down 2.3 %

Shares of AGI opened at $19.97 on Friday. Alamos Gold Inc. has a twelve month low of $10.78 and a twelve month high of $21.42. The firm’s fifty day simple moving average is $18.74 and its 200-day simple moving average is $16.68. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of 38.40, a PEG ratio of 0.90 and a beta of 1.18.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $332.60 million for the quarter, compared to analyst estimates 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 period last year, the business earned $0.15 EPS. On average, analysts predict that Alamos Gold Inc. will post 0.75 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Thursday, September 12th. Alamos Gold’s dividend payout ratio (DPR) is 19.23%.

Wall Street Analysts Forecast Growth

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

About Alamos Gold

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.