Alamos Gold Inc. (NYSE:AGI) Shares Sold by Millennium Management LLC

Millennium Management LLC lowered its stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 8.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,815,527 shares of the basic materials company’s stock after selling 243,351 shares during the period. Millennium Management LLC owned approximately 0.71% of Alamos Gold worth $44,147,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Van ECK Associates Corp raised its stake in shares of Alamos Gold by 8.3% in the 1st quarter. Van ECK Associates Corp now owns 52,397,485 shares of the basic materials company’s stock valued at $772,863,000 after acquiring an additional 4,009,220 shares during the period. Vanguard Group Inc. raised its stake in shares of Alamos Gold by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 14,669,249 shares of the basic materials company’s stock valued at $216,371,000 after acquiring an additional 250,207 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Alamos Gold by 71.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,588,581 shares of the basic materials company’s stock valued at $97,183,000 after acquiring an additional 2,756,759 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Alamos Gold by 31.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,373,478 shares of the basic materials company’s stock valued at $68,576,000 after acquiring an additional 1,058,000 shares during the period. Finally, CIBC Asset Management Inc raised its stake in shares of Alamos Gold by 311.9% in the 2nd quarter. CIBC Asset Management Inc now owns 2,709,784 shares of the basic materials company’s stock valued at $42,480,000 after acquiring an additional 2,051,935 shares during the period. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group lifted their price target 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. Royal Bank of Canada lifted their price target on shares of Alamos Gold from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Scotiabank lifted their price target on shares of Alamos Gold from $20.00 to $22.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Finally, National Bank Financial downgraded shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a research note on Sunday, September 8th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $23.81.

Alamos Gold Price Performance

Shares of AGI opened at $20.20 on Wednesday. The stock has a market capitalization of $8.06 billion, a PE ratio of 38.84, a price-to-earnings-growth ratio of 0.90 and a beta of 1.18. The business’s fifty day moving average price is $18.80 and its 200 day moving average price is $16.76. Alamos Gold Inc. has a 12-month low of $10.78 and a 12-month high of $21.42.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The firm 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 firm’s revenue was up 27.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.15 earnings per share. As a group, research analysts anticipate that Alamos Gold Inc. will post 0.75 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Thursday, September 12th. Alamos Gold’s dividend payout ratio is presently 19.23%.

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.