Gabelli Funds LLC Has $29.48 Million Stock Holdings in Alamos Gold Inc. $AGI

Gabelli Funds LLC decreased its holdings in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 7.9% in the third quarter, Holdings Channel reports. The firm owned 845,575 shares of the basic materials company’s stock after selling 72,400 shares during the quarter. Gabelli Funds LLC’s holdings in Alamos Gold were worth $29,477,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in AGI. Pinnacle Wealth Management Group Inc. grew its holdings in Alamos Gold by 0.5% during the 3rd quarter. Pinnacle Wealth Management Group Inc. now owns 72,121 shares of the basic materials company’s stock worth $2,514,000 after acquiring an additional 390 shares during the period. Williamson Legacy Group LLC grew its holdings in shares of Alamos Gold by 0.7% during the second quarter. Williamson Legacy Group LLC now owns 57,228 shares of the basic materials company’s stock valued at $1,520,000 after buying an additional 400 shares during the last quarter. StoneX Group Inc. grew its holdings in shares of Alamos Gold by 1.8% during the second quarter. StoneX Group Inc. now owns 26,083 shares of the basic materials company’s stock valued at $693,000 after buying an additional 455 shares during the last quarter. Allianz Asset Management GmbH increased its position in shares of Alamos Gold by 0.3% during the third quarter. Allianz Asset Management GmbH now owns 197,376 shares of the basic materials company’s stock worth $6,881,000 after acquiring an additional 543 shares in the last quarter. Finally, VELA Investment Management LLC raised its holdings in shares of Alamos Gold by 0.4% in the 3rd quarter. VELA Investment Management LLC now owns 152,985 shares of the basic materials company’s stock worth $5,333,000 after acquiring an additional 555 shares during the last quarter. 64.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AGI has been the topic of several recent research reports. Wall Street Zen cut shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 1st. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a research note on Wednesday, February 4th. Weiss Ratings restated a “buy (a)” rating on shares of Alamos Gold in a report on Monday, December 29th. Desjardins assumed coverage on Alamos Gold in a research report on Friday, November 28th. They set a “buy” rating on the stock. Finally, Scotiabank upped their price target on Alamos Gold from $55.00 to $60.00 and gave the stock a “sector outperform” rating in a report on Friday, February 6th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Alamos Gold has an average rating of “Buy” and an average target price of $45.50.

Alamos Gold Stock Performance

Shares of AGI stock opened at $49.82 on Friday. Alamos Gold Inc. has a 12 month low of $22.77 and a 12 month high of $55.41. The stock has a market capitalization of $20.92 billion, a P/E ratio of 23.72, a PEG ratio of 0.67 and a beta of 0.55. 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 firm’s 50 day moving average is $43.58 and its 200 day moving average is $37.20.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.05. The firm had revenue of $575.30 million during the quarter, compared to analyst estimates of $596.18 million. Alamos Gold had a return on equity of 14.83% and a net margin of 48.97%.The business’s revenue for the quarter was up 53.1% on a year-over-year basis. During the same period last year, the company earned $0.25 earnings per share. On average, sell-side analysts anticipate that Alamos Gold Inc. will post 1.29 earnings per share for the current year.

Alamos Gold Increases Dividend

The business 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. The ex-dividend date is Thursday, March 12th. This represents a $0.16 annualized dividend and a yield of 0.3%. This is an increase from Alamos Gold’s previous quarterly dividend of $0.03. Alamos Gold’s dividend payout ratio is 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.