Canoe Financial LP Sells 64,343 Shares of Alamos Gold Inc. $AGI

Canoe Financial LP trimmed its position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 35.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,784 shares of the basic materials company’s stock after selling 64,343 shares during the period. Canoe Financial LP’s holdings in Alamos Gold were worth $5,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Atlantic Union Bankshares Corp purchased a new position in shares of Alamos Gold in the fourth quarter valued at $25,000. Clearstead Advisors LLC raised its stake in Alamos Gold by 62.7% during 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 in the last quarter. Smartleaf Asset Management LLC raised its stake in Alamos Gold by 44.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 722 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 222 shares in the last quarter. Bayforest Capital Ltd bought a new position in Alamos Gold during the fourth quarter valued at $44,000. Finally, EverSource Wealth Advisors LLC lifted its position in Alamos Gold by 69.6% during 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 last quarter. 64.33% of the stock is currently owned by institutional investors.

Alamos Gold Stock Performance

NYSE:AGI opened at $31.29 on Monday. The stock’s fifty day moving average is $39.46 and its 200 day moving average is $41.98. Alamos Gold Inc. has a fifty-two week low of $23.92 and a fifty-two week high of $55.41. The firm has a market capitalization of $13.12 billion, a PE ratio of 12.47, a PEG ratio of 0.42 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 issued its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.54. The company had revenue of $596.70 million during the quarter, compared to the consensus estimate of $612.35 million. Alamos Gold had a return on equity of 18.03% and a net margin of 51.24%.Alamos Gold’s revenue was up 79.2% on a year-over-year basis. During the same period last year, the company earned $0.14 earnings per share. On average, sell-side analysts anticipate that Alamos Gold Inc. will post 2.38 earnings per share for the current year.

Alamos Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were paid a $0.04 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. Alamos Gold’s dividend payout ratio is currently 6.37%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AGI shares. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a research note on Saturday, June 20th. Bank of America lowered their price target on shares of Alamos Gold from $57.00 to $50.00 and set a “buy” rating for the company in a report on Monday, June 22nd. Weiss Ratings downgraded shares of Alamos Gold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Finally, Wall Street Zen lowered Alamos Gold from a “buy” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $53.00.

Alamos Gold Company 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.