Principal Financial Group Inc. Has $1.05 Million Position in Alamos Gold Inc. $AGI

Principal Financial Group Inc. cut its position in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 97.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,700 shares of the basic materials company’s stock after selling 794,220 shares during the quarter. Principal Financial Group Inc.’s holdings in Alamos Gold were worth $1,051,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Alamos Gold by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 17,565,941 shares of the basic materials company’s stock valued at $678,291,000 after buying an additional 332,335 shares during the period. PKO Investment Management Joint Stock Co boosted its position in Alamos Gold by 21.9% during the 1st quarter. PKO Investment Management Joint Stock Co now owns 197,463 shares of the basic materials company’s stock worth $8,767,000 after buying an additional 35,463 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in Alamos Gold during the 4th quarter worth approximately $72,410,000. Verbena Value LP boosted its position in Alamos Gold by 44.7% during the 1st quarter. Verbena Value LP now owns 923,200 shares of the basic materials company’s stock worth $41,018,000 after buying an additional 285,200 shares during the period. Finally, U S Global Investors Inc. increased its position in Alamos Gold by 474.3% in the 1st quarter. U S Global Investors Inc. now owns 201,021 shares of the basic materials company’s stock valued at $8,931,000 after acquiring an additional 166,021 shares during the period. 64.33% of the stock is owned by institutional investors and hedge funds.

Alamos Gold Stock Down 2.0%

Alamos Gold stock opened at $27.83 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.61 and a current ratio of 2.01. Alamos Gold Inc. has a 52-week low of $23.92 and a 52-week high of $55.41. The firm has a 50 day moving average price of $32.84 and a two-hundred day moving average price of $40.28. The firm has a market cap of $11.65 billion, a price-to-earnings ratio of 10.05, a PEG ratio of 0.36 and a beta of 0.55.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. Alamos Gold had a net margin of 52.64% and a return on equity of 19.77%. The firm had revenue of $594.10 million for the quarter, compared to the consensus estimate of $593.58 million. During the same quarter in the previous year, the company earned $0.34 EPS. The company’s revenue for the quarter was up 35.6% on a year-over-year basis. Equities analysts predict that Alamos Gold Inc. will post 2.19 EPS for the current year.

Alamos Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were issued a $0.04 dividend. The ex-dividend date was Thursday, June 11th. This represents a $0.16 annualized dividend and a yield of 0.6%. Alamos Gold’s payout ratio is presently 5.78%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of Alamos Gold from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Weiss Ratings downgraded Alamos Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 23rd. Scotiabank reaffirmed an “outperform” rating on shares of Alamos Gold in a research report on Tuesday, July 14th. Jefferies Financial Group lowered their target price on Alamos Gold from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Finally, Bank of America reduced their price target on Alamos Gold from $50.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.

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.