Gabelli Funds LLC Cuts Stock Position in Alamos Gold Inc. (NYSE:AGI)

Gabelli Funds LLC cut its holdings in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 23.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,170,375 shares of the basic materials company’s stock after selling 354,800 shares during the quarter. Gabelli Funds LLC owned approximately 0.29% of Alamos Gold worth $18,351,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Cheviot Value Management LLC increased its holdings in Alamos Gold by 2.0% during the fourth quarter. Cheviot Value Management LLC now owns 51,927 shares of the basic materials company’s stock worth $699,000 after buying an additional 1,000 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in shares of Alamos Gold by 3.4% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 38,816 shares of the basic materials company’s stock worth $609,000 after purchasing an additional 1,282 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Alamos Gold by 2.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 66,445 shares of the basic materials company’s stock worth $1,042,000 after purchasing an additional 1,654 shares during the period. Easterly Investment Partners LLC lifted its stake in Alamos Gold by 0.6% in the second quarter. Easterly Investment Partners LLC now owns 277,910 shares of the basic materials company’s stock valued at $4,358,000 after purchasing an additional 1,673 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in Alamos Gold by 18.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,785 shares of the basic materials company’s stock valued at $216,000 after purchasing an additional 2,141 shares during the last quarter. 64.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Alamos Gold Stock Performance

NYSE:AGI opened at $20.82 on Monday. The business’s fifty day moving average is $18.42 and its 200 day moving average is $16.47. The firm has a market cap of $8.31 billion, a price-to-earnings ratio of 40.04, a PEG ratio of 0.82 and a beta of 1.18. Alamos Gold Inc. has a 52-week low of $10.78 and a 52-week high of $21.14.

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

Alamos Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Thursday, September 12th. Alamos Gold’s dividend payout ratio is presently 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.