Moran Wealth Management LLC Sells 20,575 Shares of Alamos Gold Inc. $AGI

Moran Wealth Management LLC trimmed its position in Alamos Gold Inc. (NYSE:AGI – Free Report) (TSE:AGI) by 29.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,256 shares of the basic materials company’s stock after selling 20,575 shares during the quarter. Moran Wealth Management LLC’s holdings in Alamos Gold were worth $1,905,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp raised its holdings in shares of Alamos Gold by 35.3% in the third quarter. Van ECK Associates Corp now owns 45,544,137 shares of the basic materials company’s stock valued at $1,587,666,000 after acquiring an additional 11,876,324 shares in the last quarter. Vanguard Group Inc. grew its holdings in Alamos Gold by 3.1% during the 3rd 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. Mackenzie Financial Corp grew its holdings in Alamos Gold by 6.3% during the 3rd quarter. Mackenzie Financial Corp now owns 9,547,541 shares of the basic materials company’s stock worth $332,724,000 after acquiring an additional 567,926 shares in the last quarter. Invesco Ltd. increased its position in Alamos Gold by 23.4% during the 3rd quarter. Invesco Ltd. now owns 2,981,880 shares of the basic materials company’s stock valued at $103,948,000 after purchasing an additional 565,441 shares during the period. Finally, Amundi increased its position in Alamos Gold by 23.5% during the 3rd quarter. Amundi now owns 2,964,424 shares of the basic materials company’s stock valued at $102,984,000 after purchasing an additional 563,528 shares during the period. Institutional investors own 64.33% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on AGI. 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. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a research note on Wednesday, February 4th. Weiss Ratings lowered Alamos Gold from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, April 2nd. Finally, Wall Street Zen cut Alamos Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $50.67.

Read Our Latest Stock Analysis on AGI

Alamos Gold Stock Performance

AGI stock opened at $49.38 on Monday. Alamos Gold Inc. has a one year low of $23.75 and a one year high of $55.41. The firm has a market cap of $20.74 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 0.68 and a beta of 0.63. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.60 and a current ratio of 2.00. The firm has a 50-day simple moving average of $46.60 and a two-hundred day simple moving average of $40.14.

Alamos Gold (NYSE:AGI – Get Free Report) (TSE:AGI) last issued its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.05. The firm had revenue of $575.30 million for the quarter, compared to the consensus estimate of $596.18 million. Alamos Gold had a net margin of 48.97% and a return on equity of 14.83%. The company’s quarterly revenue was up 53.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 EPS. On average, equities analysts forecast that Alamos Gold Inc. will post 1.29 EPS for the current fiscal year.

Alamos Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.3%. This is a positive change from Alamos Gold’s previous quarterly dividend of $0.03. The ex-dividend date was Thursday, March 12th. Alamos Gold’s payout ratio is 7.62%.

Alamos Gold Company Profile

(Free Report)

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.

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