Oppenheimer & Close LLC Reduces Stock Position in Alamos Gold Inc. $AGI

Oppenheimer & Close LLC cut its stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 16.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 143,105 shares of the basic materials company’s stock after selling 27,860 shares during the period. Alamos Gold makes up about 3.8% of Oppenheimer & Close LLC’s holdings, making the stock its 11th largest holding. Oppenheimer & Close LLC’s holdings in Alamos Gold were worth $5,534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Clearstead Advisors LLC grew its position in shares of Alamos Gold by 62.8% in 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. Sheets Smith Wealth Management grew its position in shares of Alamos Gold by 1.3% in the fourth quarter. Sheets Smith Wealth Management now owns 20,098 shares of the basic materials company’s stock valued at $775,000 after purchasing an additional 258 shares in the last quarter. Private Advisor Group LLC grew its position in shares of Alamos Gold by 3.2% in the third quarter. Private Advisor Group LLC now owns 9,739 shares of the basic materials company’s stock valued at $340,000 after purchasing an additional 300 shares in the last quarter. Cary Street Partners Financial LLC lifted its holdings in Alamos Gold by 1.4% in the fourth quarter. Cary Street Partners Financial LLC now owns 24,730 shares of the basic materials company’s stock valued at $954,000 after acquiring an additional 335 shares during the last quarter. Finally, Legacy Capital Group California Inc. lifted its holdings in Alamos Gold by 2.9% in the fourth quarter. Legacy Capital Group California Inc. now owns 11,936 shares of the basic materials company’s stock valued at $460,000 after acquiring an additional 337 shares during the last quarter. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

Alamos Gold Stock Up 3.4%

NYSE:AGI opened at $40.88 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.01 and a debt-to-equity ratio of 0.05. The stock’s fifty day moving average is $43.11 and its two-hundred day moving average is $41.85. Alamos Gold Inc. has a 52 week low of $23.92 and a 52 week high of $55.41. The stock has a market capitalization of $17.17 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 0.51 and a beta of 0.50.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. Alamos Gold had a return on equity of 18.03% and a net margin of 51.24%.The company had revenue of $596.70 million for the quarter, compared to analysts’ expectations of $612.35 million. During the same period in the prior year, the firm earned $0.14 earnings per share. The firm’s revenue was up 79.2% compared to the same quarter last year. Research analysts anticipate that Alamos Gold Inc. will post 2.46 EPS for the current year.

Alamos Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Thursday, June 11th. Alamos Gold’s dividend payout ratio is 6.37%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Alamos Gold in a report on Wednesday, February 4th. Wall Street Zen cut Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 1st. Weiss Ratings cut Alamos Gold from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, May 1st. Finally, Scotiabank upped their price objective on Alamos Gold from $55.00 to $60.00 and gave the company a “sector outperform” rating in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $50.67.

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.