BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 34,709 Shares of Alamos Gold Inc. (NYSE:AGI)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its position in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 13.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 224,005 shares of the basic materials company’s stock after selling 34,709 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Alamos Gold were worth $3,514,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of AGI. Baldwin Brothers LLC MA bought a new stake in shares of Alamos Gold in the second quarter worth about $47,000. Daiwa Securities Group Inc. bought a new stake in shares of Alamos Gold in the 2nd quarter worth approximately $48,000. St. Johns Investment Management Company LLC bought a new position in shares of Alamos Gold during the first quarter valued at approximately $115,000. Coppell Advisory Solutions Corp. bought a new position in shares of Alamos Gold during the first quarter valued at approximately $203,000. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in Alamos Gold by 18.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,785 shares of the basic materials company’s stock worth $216,000 after acquiring an additional 2,141 shares during the period. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Alamos Gold Price Performance

Shares of NYSE AGI opened at $19.97 on Friday. Alamos Gold Inc. has a 1 year low of $10.78 and a 1 year high of $21.42. The firm has a 50-day moving average of $18.69 and a 200 day moving average of $16.63. The stock has a market cap of $7.97 billion, a P/E ratio of 38.40, a price-to-earnings-growth ratio of 0.90 and a beta of 1.18.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its earnings results on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. The firm had revenue of $332.60 million during the quarter, compared to analyst estimates of $282.78 million. Alamos Gold had a net margin of 17.73% and a return on equity of 8.52%. The business’s revenue was up 27.4% on a year-over-year basis. During the same period last year, the business earned $0.15 earnings per share. Research analysts expect that Alamos Gold Inc. will post 0.75 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were paid a $0.025 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.50%. Alamos Gold’s dividend payout ratio is currently 19.23%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AGI shares. Jefferies Financial Group boosted their price objective on shares of Alamos Gold from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, September 13th. National Bank Financial downgraded shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a research note on Sunday, September 8th. Royal Bank of Canada lifted their price objective on Alamos Gold from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Finally, Scotiabank upped their target price on Alamos Gold from $20.00 to $22.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.81.

Alamos Gold Company Profile

Alamos Gold Inc engages in the acquisition, exploration, development, and extraction of precious metals in Canada and Mexico. The company primarily explores for gold deposits. It holds 100% interest in the Young-Davidson mine and Island Gold mine located in the Ontario, Canada; Mulatos mine located in the Sonora, Mexico; and Lynn Lake project situated in the Manitoba, Canada.