Merk Investments LLC Lowers Stake in Alamos Gold Inc. $AGI

Merk Investments LLC decreased its holdings in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 25.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 750,000 shares of the basic materials company’s stock after selling 250,000 shares during the period. Alamos Gold comprises 8.0% of Merk Investments LLC’s portfolio, making the stock its 4th biggest holding. Merk Investments LLC owned about 0.18% of Alamos Gold worth $26,145,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Alamos Gold by 3.1% during the third quarter. Vanguard Group Inc. now owns 17,233,606 shares of the basic materials company’s stock worth $600,712,000 after acquiring an additional 524,263 shares in the last quarter. Intact Investment Management Inc. increased its position in shares of Alamos Gold by 3.8% during the 3rd quarter. Intact Investment Management Inc. now owns 657,696 shares of the basic materials company’s stock worth $22,928,000 after purchasing an additional 24,330 shares in the last quarter. Caldwell Investment Management Ltd. lifted its holdings in Alamos Gold by 143.5% during the 3rd quarter. Caldwell Investment Management Ltd. now owns 168,000 shares of the basic materials company’s stock valued at $5,818,000 after purchasing an additional 99,000 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Alamos Gold by 29.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,468,980 shares of the basic materials company’s stock valued at $51,192,000 after buying an additional 336,200 shares in the last quarter. Finally, Swiss National Bank grew its stake in Alamos Gold by 55.3% during the second quarter. Swiss National Bank now owns 1,277,936 shares of the basic materials company’s stock worth $33,860,000 after buying an additional 455,100 shares during the last quarter. 64.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AGI shares. Jefferies Financial Group reiterated a “buy” rating and issued a $49.00 target price on shares of Alamos Gold in a research note on Sunday, December 7th. Scotiabank upped their price target on shares of Alamos Gold from $55.00 to $60.00 and gave the stock a “sector outperform” rating in a research report on Friday, February 6th. Wall Street Zen lowered shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 1st. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Alamos Gold in a report on Monday, December 29th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Alamos Gold in a research report on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $45.50.

Alamos Gold Stock Performance

Shares of AGI stock opened at $46.21 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.60 and a current ratio of 2.00. Alamos Gold Inc. has a 52 week low of $23.49 and a 52 week high of $55.41. The company’s 50 day moving average price is $44.76 and its two-hundred day moving average price is $38.12. The company has a market capitalization of $19.40 billion, a P/E ratio of 22.01, a price-to-earnings-growth ratio of 0.61 and a beta of 0.55.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.05. Alamos Gold had a net margin of 48.97% and a return on equity of 14.83%. The company had revenue of $575.30 million during the quarter, compared to analysts’ expectations of $596.18 million. During the same quarter in the prior year, the company earned $0.25 earnings per share. The business’s quarterly revenue was up 53.1% compared to the same quarter last year. On average, analysts expect that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Increases Dividend

The company also recently announced 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 yield of 0.3%. The ex-dividend date is Thursday, March 12th. This is a positive change from Alamos Gold’s previous quarterly dividend of $0.03. Alamos Gold’s dividend payout ratio (DPR) is presently 7.62%.

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.