TD Asset Management Inc Sells 458,320 Shares of Alamos Gold Inc. $AGI

TD Asset Management Inc lowered its position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 17.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,141,512 shares of the basic materials company’s stock after selling 458,320 shares during the quarter. TD Asset Management Inc’s holdings in Alamos Gold were worth $74,662,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Pinnacle Wealth Management Group Inc. grew its holdings in shares of Alamos Gold by 0.5% in the third quarter. Pinnacle Wealth Management Group Inc. now owns 72,121 shares of the basic materials company’s stock valued at $2,514,000 after acquiring an additional 390 shares in the last quarter. Williamson Legacy Group LLC grew its stake in Alamos Gold by 0.7% in the 2nd quarter. Williamson Legacy Group LLC now owns 57,228 shares of the basic materials company’s stock valued at $1,520,000 after purchasing an additional 400 shares during the period. StoneX Group Inc. increased its position in shares of Alamos Gold by 1.8% during the 2nd quarter. StoneX Group Inc. now owns 26,083 shares of the basic materials company’s stock valued at $693,000 after purchasing an additional 455 shares during the last quarter. Allianz Asset Management GmbH raised its stake in shares of Alamos Gold by 0.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 197,376 shares of the basic materials company’s stock worth $6,881,000 after purchasing an additional 543 shares during the period. Finally, VELA Investment Management LLC boosted its holdings in shares of Alamos Gold by 0.4% in the 3rd quarter. VELA Investment Management LLC now owns 152,985 shares of the basic materials company’s stock worth $5,333,000 after buying an additional 555 shares during the last quarter. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on AGI. Wall Street Zen upgraded shares of Alamos Gold from a “hold” rating to a “strong-buy” rating in a research note on Saturday, February 21st. Zacks Research lowered Alamos Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. TD Securities reissued a “buy” rating on shares of Alamos Gold in a report on Monday, November 3rd. Desjardins initiated coverage on Alamos Gold in a research note on Friday, November 28th. They issued a “buy” rating for the company. Finally, Weiss Ratings reiterated a “buy (a)” rating on shares of Alamos Gold in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Alamos Gold has an average rating of “Buy” and a consensus price target of $45.50.

Alamos Gold Stock Performance

NYSE AGI opened at $52.43 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.00 and a quick ratio of 1.60. The company has a market cap of $22.01 billion, a P/E ratio of 24.97, a P/E/G ratio of 0.48 and a beta of 0.61. The stock has a 50-day moving average of $42.14 and a two-hundred day moving average of $36.03. Alamos Gold Inc. has a 1-year low of $22.03 and a 1-year high of $52.48.

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

Alamos Gold Increases Dividend

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

Alamos Gold 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.