VELA Investment Management LLC Sells 31,890 Shares of Alamos Gold Inc. (NYSE:AGI)

VELA Investment Management LLC reduced its position in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 16.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 167,907 shares of the basic materials company’s stock after selling 31,890 shares during the period. Alamos Gold accounts for approximately 1.4% of VELA Investment Management LLC’s investment portfolio, making the stock its 16th largest holding. VELA Investment Management LLC’s holdings in Alamos Gold were worth $4,490,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AGI. Murphy Pohlad Asset Management LLC increased its holdings in Alamos Gold by 0.3% in the first quarter. Murphy Pohlad Asset Management LLC now owns 159,650 shares of the basic materials company’s stock valued at $4,269,000 after purchasing an additional 500 shares during the last quarter. Baird Financial Group Inc. raised its position in shares of Alamos Gold by 0.3% in the 4th quarter. Baird Financial Group Inc. now owns 181,611 shares of the basic materials company’s stock valued at $3,349,000 after acquiring an additional 614 shares during the period. NewEdge Advisors LLC boosted its stake in Alamos Gold by 1.2% during the 4th quarter. NewEdge Advisors LLC now owns 72,751 shares of the basic materials company’s stock worth $1,342,000 after acquiring an additional 854 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Alamos Gold by 0.6% in the fourth quarter. Ameriprise Financial Inc. now owns 187,920 shares of the basic materials company’s stock valued at $3,465,000 after purchasing an additional 1,063 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in Alamos Gold by 4.9% in the fourth quarter. Cetera Investment Advisers now owns 23,853 shares of the basic materials company’s stock valued at $440,000 after purchasing an additional 1,125 shares in the last quarter. Institutional investors own 64.33% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AGI shares. Bank of America decreased their price target on shares of Alamos Gold from $31.00 to $30.50 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Royal Bank Of Canada increased their price target on Alamos Gold from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, April 4th. Wall Street Zen lowered Alamos Gold from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Scotiabank reissued an “outperform” rating on shares of Alamos Gold in a research note on Monday, April 14th. Finally, National Bank Financial raised shares of Alamos Gold to a “strong-buy” rating in a research note on Friday, March 21st. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.38.

Alamos Gold Stock Up 0.2%

Shares of Alamos Gold stock opened at $27.04 on Friday. The firm has a market cap of $11.36 billion, a PE ratio of 43.60, a P/E/G ratio of 0.53 and a beta of 0.54. The business’s 50 day simple moving average is $26.39 and its 200 day simple moving average is $24.24. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.94 and a current ratio of 1.49. Alamos Gold Inc. has a 52-week low of $15.74 and a 52-week high of $31.00.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). Alamos Gold had a return on equity of 9.83% and a net margin of 18.36%. The business had revenue of $333.00 million during the quarter, compared to the consensus estimate of $324.98 million. During the same period in the prior year, the firm earned $0.13 EPS. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. On average, analysts predict that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.37%. The ex-dividend date was Thursday, June 12th. Alamos Gold’s payout ratio is 16.13%.

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.