Sumitomo Mitsui Trust Group Inc. Cuts Position in Alamos Gold Inc. $AGI

Sumitomo Mitsui Trust Group Inc. decreased its position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 30.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,045 shares of the basic materials company’s stock after selling 35,065 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Alamos Gold were worth $3,556,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Alamos Gold in the 4th quarter worth about $219,475,000. Massachusetts Financial Services Co. MA bought a new position in shares of Alamos Gold during the 4th quarter valued at about $72,410,000. Bank of America Corp DE raised its holdings in shares of Alamos Gold by 137.3% during the 3rd quarter. Bank of America Corp DE now owns 2,624,565 shares of the basic materials company’s stock valued at $91,492,000 after buying an additional 1,518,374 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Alamos Gold by 105.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,394,604 shares of the basic materials company’s stock valued at $64,032,000 after buying an additional 1,227,695 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Alamos Gold by 11.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 9,095,054 shares of the basic materials company’s stock worth $351,072,000 after buying an additional 964,317 shares during the last quarter. Institutional investors own 64.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Jefferies Financial Group cut their target price on Alamos Gold from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Royal Bank Of Canada decreased their price target on shares of Alamos Gold from $52.00 to $42.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Scotiabank restated an “outperform” rating on shares of Alamos Gold in a report on Tuesday. Weiss Ratings cut shares of Alamos Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Finally, Bank of America lowered their price target on shares of Alamos Gold from $50.00 to $39.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.50.

Alamos Gold Stock Performance

NYSE:AGI opened at $29.36 on Wednesday. The firm has a market cap of $12.29 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 0.37 and a beta of 0.55. Alamos Gold Inc. has a fifty-two week low of $23.92 and a fifty-two week high of $55.41. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.61 and a current ratio of 2.01. The business has a 50 day moving average price of $36.11 and a 200-day moving average price of $41.29.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its earnings results on Wednesday, April 29th. The basic materials company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. Alamos Gold had a net margin of 51.24% and a return on equity of 18.03%. The company had revenue of $596.70 million for the quarter, compared to the consensus estimate of $612.35 million. During the same period in the previous year, the firm earned $0.14 earnings per share. The firm’s revenue for the quarter was up 79.2% on a year-over-year basis. Equities research analysts predict that Alamos Gold Inc. will post 2.19 earnings per share for the current year.

Alamos Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, June 11th. Alamos Gold’s dividend payout ratio (DPR) is 6.37%.

Alamos Gold Profile

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.