Lord Abbett & CO. LLC Sells 58,000 Shares of Alamos Gold Inc. (NYSE:AGI)

Lord Abbett & CO. LLC lessened its holdings in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 16.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 303,561 shares of the basic materials company’s stock after selling 58,000 shares during the quarter. Lord Abbett & CO. LLC owned 0.07% of Alamos Gold worth $5,600,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. grew its position in shares of Alamos Gold by 155.7% in the 4th quarter. Blue Trust Inc. now owns 1,900 shares of the basic materials company’s stock valued at $38,000 after acquiring an additional 1,157 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Alamos Gold by 51.8% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,510 shares of the basic materials company’s stock valued at $46,000 after buying an additional 856 shares in the last quarter. R Squared Ltd acquired a new position in shares of Alamos Gold in the 4th quarter valued at approximately $61,000. Cutler Capital Management LLC acquired a new position in shares of Alamos Gold in the 4th quarter valued at approximately $108,000. Finally, Daiwa Securities Group Inc. acquired a new position in Alamos Gold during the 4th quarter worth approximately $136,000. Institutional investors and hedge funds own 64.33% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AGI. Bank of America reduced their price objective on shares of Alamos Gold from $31.00 to $30.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Royal Bank of Canada lifted their price target on Alamos Gold from $27.00 to $30.00 and gave the company an “outperform” rating in a research note 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 raised shares of Alamos Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, April 15th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Alamos Gold in a report on Monday, April 14th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $30.38.

Alamos Gold Stock Performance

Shares of AGI opened at $27.96 on Monday. Alamos Gold Inc. has a 52-week low of $14.64 and a 52-week high of $31.00. The stock’s 50-day simple moving average is $25.83 and its 200 day simple moving average is $21.89. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.51. The stock has a market capitalization of $11.76 billion, a price-to-earnings ratio of 40.52, a price-to-earnings-growth ratio of 0.40 and a beta of 1.02.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its earnings results on Wednesday, February 19th. The basic materials company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. Alamos Gold had a return on equity of 10.05% and a net margin of 21.11%. The business had revenue of $375.80 million during the quarter, compared to the consensus estimate of $388.06 million. Research analysts forecast that Alamos Gold Inc. will post 1.29 EPS for the current fiscal year.

Alamos Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $0.025 dividend. The ex-dividend date was Thursday, March 13th. This represents a $0.10 annualized dividend and a yield of 0.36%. Alamos Gold’s dividend payout ratio is currently 14.49%.

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.