Connor Clark & Lunn Investment Management Ltd. Sells 2,452,169 Shares of Alamos Gold Inc. $AGI

Connor Clark & Lunn Investment Management Ltd. lowered its stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 62.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,459,301 shares of the basic materials company’s stock after selling 2,452,169 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Alamos Gold were worth $50,855,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. 1620 Investment Advisors Inc. bought a new position in shares of Alamos Gold in the 3rd quarter valued at approximately $35,000. EverSource Wealth Advisors LLC boosted its position in Alamos Gold by 69.6% during the third quarter. EverSource Wealth Advisors LLC now owns 1,416 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 581 shares during the period. Skandinaviska Enskilda Banken AB publ bought a new stake in Alamos Gold during the second quarter worth approximately $98,000. Employees Retirement System of Texas acquired a new position in Alamos Gold during the second quarter valued at approximately $112,000. Finally, Farther Finance Advisors LLC grew its holdings in Alamos Gold by 528.4% during the third quarter. Farther Finance Advisors LLC now owns 4,468 shares of the basic materials company’s stock valued at $156,000 after purchasing an additional 3,757 shares during the last quarter. Institutional investors own 64.33% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Desjardins began coverage on shares of Alamos Gold in a research note on Friday, November 28th. They issued a “buy” rating for the company. Wall Street Zen downgraded shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 1st. Scotiabank boosted their target price on shares of Alamos Gold from $55.00 to $60.00 and gave the stock a “sector outperform” rating in a research report on Friday, February 6th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a research report on Wednesday, February 4th. Finally, Weiss Ratings reaffirmed a “buy (a)” rating on shares of Alamos Gold in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $45.50.

Alamos Gold Price Performance

Shares of NYSE:AGI opened at $48.49 on Friday. The firm has a market capitalization of $20.36 billion, a PE ratio of 23.09, a PEG ratio of 0.66 and a beta of 0.55. The company has a current ratio of 2.00, a quick ratio of 1.60 and a debt-to-equity ratio of 0.05. Alamos Gold Inc. has a 1-year low of $23.49 and a 1-year high of $55.41. The business’s 50 day moving average is $44.47 and its 200-day moving average is $37.76.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its earnings results on Wednesday, February 18th. The basic materials company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.49 by $0.05. Alamos Gold had a return on equity of 14.83% and a net margin of 48.97%.The firm had revenue of $575.30 million during the quarter, compared to analysts’ expectations of $596.18 million. During the same period last year, the business earned $0.25 earnings per share. Alamos Gold’s quarterly revenue was up 53.1% compared to the same quarter last year. Sell-side analysts predict that Alamos Gold Inc. will post 1.29 earnings per share for the current year.

Alamos Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This is an increase from Alamos Gold’s previous quarterly dividend of $0.03. This represents a $0.16 dividend on an annualized basis and a yield of 0.3%. Alamos Gold’s payout ratio is presently 4.76%.

Alamos Gold Company Profile

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.