Royce & Associates LP Sells 191,000 Shares of Alamos Gold Inc. $AGI

Royce & Associates LP trimmed its stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 13.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,274,091 shares of the basic materials company’s stock after selling 191,000 shares during the period. Royce & Associates LP owned about 0.30% of Alamos Gold worth $44,411,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Harvest Portfolios Group Inc. boosted its stake in shares of Alamos Gold by 29.7% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 43,013 shares of the basic materials company’s stock valued at $1,499,000 after purchasing an additional 9,839 shares in the last quarter. Ninepoint Partners LP bought a new position in Alamos Gold during the 3rd quarter valued at about $10,632,000. Hohimer Wealth Management LLC acquired a new position in Alamos Gold in the third quarter valued at about $3,799,000. Mesirow Financial Investment Management Inc. bought a new stake in Alamos Gold during the third quarter worth about $246,000. Finally, Montrusco Bolton Investments Inc. increased its holdings in shares of Alamos Gold by 36.3% during the third quarter. Montrusco Bolton Investments Inc. now owns 547,567 shares of the basic materials company’s stock worth $19,090,000 after buying an additional 145,843 shares in the last quarter. 64.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AGI has been the topic of several recent analyst reports. Wall Street Zen downgraded Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Alamos Gold in a research report on Wednesday, February 4th. TD Securities reissued a “buy” rating on shares of Alamos Gold in a report on Monday, November 3rd. Desjardins began coverage on shares of Alamos Gold in a research report on Friday, November 28th. They issued a “buy” rating for the company. Finally, Zacks Research lowered shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. 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 data from MarketBeat.com, Alamos Gold has a consensus rating of “Buy” and an average target price of $45.50.

Alamos Gold Stock Performance

Shares of Alamos Gold stock opened at $54.27 on Friday. Alamos Gold Inc. has a 12 month low of $22.03 and a 12 month high of $54.37. The company has a current ratio of 2.00, a quick ratio of 1.60 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $22.79 billion, a PE ratio of 25.84, a PEG ratio of 0.52 and a beta of 0.61. The stock’s fifty day simple moving average is $42.45 and its 200 day simple moving average is $36.30.

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 for the quarter, compared to analysts’ expectations of $596.18 million. Alamos Gold had a net margin of 48.97% and a return on equity of 14.83%. The firm’s revenue was up 53.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.25 EPS. On average, research analysts predict that Alamos Gold Inc. will post 1.29 EPS for the current year.

Alamos Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.3%. This is a boost from Alamos Gold’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Thursday, March 12th. Alamos Gold’s payout ratio is currently 4.76%.

About Alamos Gold

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.