Van ECK Associates Corp Lowers Stake in Alamos Gold Inc. $AGI

Van ECK Associates Corp cut its position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 10.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,777,038 shares of the basic materials company’s stock after selling 4,767,099 shares during the quarter. Alamos Gold makes up 1.3% of Van ECK Associates Corp’s investment portfolio, making the stock its 20th largest position. Van ECK Associates Corp owned about 0.10% of Alamos Gold worth $1,573,189,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AGI. Atlantic Union Bankshares Corp purchased a new stake in shares of Alamos Gold during the fourth quarter worth about $25,000. Clearstead Advisors LLC grew its holdings in Alamos Gold by 62.8% in the fourth quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 251 shares during the period. Bayforest Capital Ltd purchased a new stake in Alamos Gold in the fourth quarter valued at approximately $44,000. EverSource Wealth Advisors LLC grew its holdings in Alamos Gold by 69.6% in the third quarter. EverSource Wealth Advisors LLC now owns 1,416 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 581 shares during the period. Finally, State of Wyoming purchased a new stake in Alamos Gold in the fourth quarter valued at approximately $71,000. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AGI shares. Weiss Ratings downgraded shares of Alamos Gold from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, May 1st. Wall Street Zen downgraded shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $50.67.

Alamos Gold Price Performance

Alamos Gold stock opened at $35.16 on Friday. Alamos Gold Inc. has a 1 year low of $23.92 and a 1 year high of $55.41. The firm has a 50 day moving average price of $42.09 and a 200 day moving average price of $42.08. The company has a market cap of $14.74 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 0.44 and a beta of 0.49. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.61 and a current ratio of 2.01.

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 analysts’ consensus estimates of $0.54. The firm had revenue of $596.70 million for the quarter, compared to analysts’ expectations of $612.35 million. Alamos Gold had a net margin of 51.24% and a return on equity of 18.03%. Alamos Gold’s revenue was up 79.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.14 earnings per share. Sell-side analysts predict that Alamos Gold Inc. will post 2.46 earnings per share for the current year.

Alamos Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, June 11th. Alamos Gold’s payout ratio is 6.37%.

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.