Cumberland Partners Ltd Lowers Stock Position in Alamos Gold Inc. $AGI

Cumberland Partners Ltd reduced its position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 15.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 204,300 shares of the basic materials company’s stock after selling 37,960 shares during the period. Cumberland Partners Ltd’s holdings in Alamos Gold were worth $9,060,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Atlantic Union Bankshares Corp purchased a new stake in Alamos Gold in the 4th quarter valued at about $25,000. Clearstead Advisors LLC lifted its position in shares of Alamos Gold by 62.7% during the 4th quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company’s stock worth $25,000 after buying an additional 251 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Alamos Gold by 44.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 722 shares of the basic materials company’s stock worth $28,000 after buying an additional 222 shares during the last quarter. Parallel Advisors LLC purchased a new position in shares of Alamos Gold in the 1st quarter worth approximately $35,000. Finally, Bayforest Capital Ltd bought a new position in shares of Alamos Gold in the fourth quarter valued at approximately $44,000. 64.33% of the stock is owned by institutional investors.

Alamos Gold Price Performance

Alamos Gold stock opened at $29.59 on Friday. Alamos Gold Inc. has a one year low of $23.92 and a one year high of $55.41. The business has a fifty day moving average price of $33.90 and a 200-day moving average price of $40.71. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 1.61. The firm has a market capitalization of $12.39 billion, a P/E ratio of 11.79, a PEG ratio of 0.38 and a beta of 0.55.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. Alamos Gold had a return on equity of 18.03% and a net margin of 51.24%.The company had revenue of $596.70 million during the quarter, compared to analysts’ expectations of $612.35 million. During the same period in the previous year, the business earned $0.14 earnings per share. The firm’s quarterly revenue was up 79.2% compared to the same quarter last year. As a group, equities research analysts forecast that Alamos Gold Inc. will post 2.19 EPS for the current year.

Alamos Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were given a dividend of $0.04 per share. The ex-dividend date was Thursday, June 11th. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. Alamos Gold’s dividend payout ratio is currently 6.37%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AGI. Jefferies Financial Group decreased their price target on Alamos Gold from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Wall Street Zen raised Alamos Gold from a “hold” rating to a “buy” rating in a research report on Saturday. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Alamos Gold in a research note on Saturday, June 20th. Royal Bank Of Canada decreased their price target on shares of Alamos Gold from $52.00 to $42.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Finally, Scotiabank restated an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, July 14th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $47.50.

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.