Herr Investment Group LLC Reduces Stock Holdings in Alamos Gold Inc. (NYSE:AGI)

Herr Investment Group LLC trimmed its holdings in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 12.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 735,795 shares of the basic materials company’s stock after selling 100,000 shares during the quarter. Alamos Gold accounts for about 0.8% of Herr Investment Group LLC’s portfolio, making the stock its 10th largest holding. Herr Investment Group LLC’s holdings in Alamos Gold were worth $11,537,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Norges Bank acquired a new stake in Alamos Gold during the 4th quarter valued at $64,117,000. Van ECK Associates Corp grew its holdings in shares of Alamos Gold by 8.3% during the first quarter. Van ECK Associates Corp now owns 52,397,485 shares of the basic materials company’s stock valued at $772,863,000 after buying an additional 4,009,220 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Alamos Gold by 71.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,581 shares of the basic materials company’s stock valued at $97,183,000 after buying an additional 2,756,759 shares during the period. CIBC Asset Management Inc lifted its stake in Alamos Gold by 311.9% in the 2nd quarter. CIBC Asset Management Inc now owns 2,709,784 shares of the basic materials company’s stock worth $42,480,000 after acquiring an additional 2,051,935 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Alamos Gold by 396.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,426,474 shares of the basic materials company’s stock worth $19,215,000 after acquiring an additional 1,139,404 shares during the period. 64.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AGI has been the topic of a number of research reports. Royal Bank of Canada upped their target price on Alamos Gold from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Jefferies Financial Group upped their price objective on shares of Alamos Gold from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, September 13th. National Bank Financial lowered shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a research note on Sunday, September 8th. Finally, Scotiabank upped their price target on shares of Alamos Gold from $20.00 to $22.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Alamos Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.81.

Alamos Gold Stock Up 0.5 %

AGI stock opened at $20.30 on Friday. The firm has a 50 day moving average of $18.36 and a two-hundred day moving average of $16.37. Alamos Gold Inc. has a 12 month low of $10.78 and a 12 month high of $21.14. The company has a market capitalization of $8.10 billion, a price-to-earnings ratio of 39.04, a P/E/G ratio of 0.82 and a beta of 1.18.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. Alamos Gold had a net margin of 17.73% and a return on equity of 8.52%. The firm had revenue of $332.60 million during the quarter, compared to analysts’ expectations of $282.78 million. During the same period in the prior year, the company posted $0.15 earnings per share. Alamos Gold’s revenue for the quarter was up 27.4% on a year-over-year basis. On average, research analysts expect that Alamos Gold Inc. will post 0.75 EPS for the current fiscal year.

Alamos Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Thursday, September 12th. Alamos Gold’s payout ratio is 19.23%.

Alamos Gold 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.