Alamos Gold Inc. $AGI Shares Sold by VELA Investment Management LLC

VELA Investment Management LLC reduced its stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 38.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,000 shares of the basic materials company’s stock after selling 33,285 shares during the quarter. VELA Investment Management LLC’s holdings in Alamos Gold were worth $1,608,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AGI. Arrowstreet Capital Limited Partnership increased its position in Alamos Gold by 11.9% during 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 purchasing an additional 964,317 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Alamos Gold by 6.3% in the 4th quarter. CIBC Asset Management Inc now owns 8,716,153 shares of the basic materials company’s stock valued at $338,372,000 after purchasing an additional 514,819 shares in the last quarter. Norges Bank purchased a new position in Alamos Gold in the 4th quarter valued at about $219,475,000. Renaissance Technologies LLC boosted its stake in shares of Alamos Gold by 1.8% during the 1st quarter. Renaissance Technologies LLC now owns 5,118,171 shares of the basic materials company’s stock worth $227,400,000 after purchasing an additional 92,227 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Alamos Gold by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 4,219,852 shares of the basic materials company’s stock worth $168,031,000 after purchasing an additional 242,415 shares during the last quarter. Institutional investors and hedge funds own 64.33% of the company’s stock.

Analyst Upgrades and Downgrades

AGI has been the subject of a number of analyst reports. Royal Bank Of Canada cut their price objective on shares of Alamos Gold from $52.00 to $42.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Bank of America decreased their target price on shares of Alamos Gold from $50.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Wall Street Zen cut shares of Alamos Gold from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Scotiabank reiterated an “outperform” rating on shares of Alamos Gold in a research note on Tuesday, July 14th. Finally, Weiss Ratings lowered shares of Alamos Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 23rd. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.

Alamos Gold Trading Down 0.0%

NYSE:AGI opened at $36.96 on Tuesday. The business’s 50 day moving average is $32.29 and its two-hundred day moving average is $39.00. Alamos Gold Inc. has a 52 week low of $27.05 and a 52 week high of $55.41. The company has a market cap of $15.47 billion, a PE ratio of 13.34, a P/E/G ratio of 0.50 and a beta of 0.61. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.04.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its earnings results on Wednesday, July 29th. The basic materials company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. Alamos Gold had a return on equity of 19.28% and a net margin of 52.64%.The company had revenue of $594.10 million during the quarter, compared to the consensus estimate of $593.58 million. During the same period in the previous year, the firm posted $0.34 earnings per share. Alamos Gold’s quarterly revenue was up 35.6% compared to the same quarter last year. On average, analysts predict that Alamos Gold Inc. will post 2.12 EPS for the current year.

Alamos Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be given 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, September 10th. Alamos Gold’s payout ratio is 5.78%.

Alamos Gold Company 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.