Crestline Management LP Decreases Position in Alamos Gold Inc. (NYSE:AGI)

Crestline Management LP trimmed its holdings in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 43.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 210,932 shares of the basic materials company’s stock after selling 159,400 shares during the quarter. Crestline Management LP’s holdings in Alamos Gold were worth $3,890,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AGI. Dimensional Fund Advisors LP lifted its position in Alamos Gold by 296.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,375,892 shares of the basic materials company’s stock valued at $136,011,000 after acquiring an additional 5,516,186 shares during the last quarter. Norges Bank purchased a new position in shares of Alamos Gold during the fourth quarter worth about $100,694,000. CIBC Asset Management Inc increased its position in shares of Alamos Gold by 59.0% during the fourth quarter. CIBC Asset Management Inc now owns 7,726,726 shares of the basic materials company’s stock worth $142,936,000 after purchasing an additional 2,867,027 shares in the last quarter. Addenda Capital Inc. purchased a new stake in shares of Alamos Gold in the 4th quarter valued at about $34,869,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Alamos Gold in the 4th quarter valued at about $28,950,000. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

Alamos Gold Stock Performance

NYSE:AGI opened at $27.27 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.51 and a quick ratio of 0.96. The firm has a market cap of $11.47 billion, a price-to-earnings ratio of 39.52, a price-to-earnings-growth ratio of 0.40 and a beta of 0.60. The firm’s fifty day moving average price is $26.37 and its 200 day moving average price is $22.21. Alamos Gold Inc. has a 1-year low of $15.01 and a 1-year high of $31.00.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its earnings results on Wednesday, April 30th. The basic materials company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.05). The firm had revenue of $333.00 million during the quarter, compared to analysts’ expectations of $324.98 million. Alamos Gold had a net margin of 21.11% and a return on equity of 10.05%. The firm’s revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.13 EPS. On average, sell-side analysts expect that Alamos Gold Inc. will post 1.29 EPS for the current year.

Alamos Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date was Thursday, March 13th. Alamos Gold’s dividend payout ratio (DPR) is 16.13%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Scotiabank reaffirmed an “outperform” rating on shares of Alamos Gold in a research report on Monday, April 14th. Royal Bank of Canada upped their price target on shares of Alamos Gold from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday, April 4th. National Bank Financial raised shares of Alamos Gold to a “strong-buy” rating in a research report on Friday, March 21st. StockNews.com cut shares of Alamos Gold from a “buy” rating to a “hold” rating in a report on Monday. Finally, Bank of America decreased their target price on shares of Alamos Gold from $31.00 to $30.50 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.38.

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.