VELA Investment Management LLC Lowers Position in Alamos Gold Inc. $AGI

VELA Investment Management LLC trimmed its holdings in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 38.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,000 shares of the basic materials company’s stock after selling 33,285 shares during the quarter. VELA Investment Management LLC’s holdings in Alamos Gold were worth $1,608,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership boosted its stake in Alamos Gold by 11.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 9,095,054 shares of the basic materials company’s stock worth $351,072,000 after buying an additional 964,317 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Alamos Gold by 6.3% in the 4th quarter. CIBC Asset Management Inc now owns 8,716,153 shares of the basic materials company’s stock worth $338,372,000 after acquiring an additional 514,819 shares during the last quarter. Norges Bank acquired a new position in shares of Alamos Gold in the 4th quarter worth approximately $219,475,000. Renaissance Technologies LLC boosted its position in shares of Alamos Gold by 1.8% during the 1st quarter. Renaissance Technologies LLC now owns 5,118,171 shares of the basic materials company’s stock worth $227,400,000 after purchasing an additional 92,227 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Alamos Gold by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 4,219,852 shares of the basic materials company’s stock worth $168,031,000 after buying an additional 242,415 shares during the period. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

Alamos Gold Price Performance

Shares of NYSE AGI opened at $36.96 on Tuesday. The stock has a market cap of $15.47 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 0.50 and a beta of 0.61. Alamos Gold Inc. has a 52 week low of $27.05 and a 52 week high of $55.41. The company’s 50-day moving average price is $32.29 and its 200 day moving average price is $39.00. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.04.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its earnings results on Wednesday, July 29th. The basic materials company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.07. The firm had revenue of $594.10 million during the quarter, compared to the consensus estimate of $593.58 million. Alamos Gold had a net margin of 52.64% and a return on equity of 19.28%. The firm’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same period last year, the firm posted $0.34 EPS. As a group, research analysts forecast that Alamos Gold Inc. will post 2.12 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Thursday, September 10th. Alamos Gold’s dividend payout ratio (DPR) is 5.78%.

Analyst Ratings Changes

Several brokerages have commented on AGI. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a research report on Saturday, June 20th. Weiss Ratings downgraded Alamos Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 23rd. Bank of America dropped their price objective on Alamos Gold from $50.00 to $39.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Jefferies Financial Group lowered their target price on shares of Alamos Gold from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Finally, Royal Bank Of Canada lowered their price target on Alamos Gold from $52.00 to $42.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Alamos Gold currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

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.