Empyrean Capital Partners LP Sells 59,000 Shares of Alamos Gold Inc. (NYSE:AGI)

Empyrean Capital Partners LP reduced its holdings in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 9.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 558,000 shares of the basic materials company’s stock after selling 59,000 shares during the period. Empyrean Capital Partners LP owned about 0.14% of Alamos Gold worth $8,749,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in AGI. Baldwin Brothers LLC MA bought a new position in shares of Alamos Gold during the 2nd quarter valued at $47,000. Daiwa Securities Group Inc. bought a new position in shares of Alamos Gold during the second quarter valued at about $48,000. St. Johns Investment Management Company LLC purchased a new position in shares of Alamos Gold in the first quarter worth about $115,000. Coppell Advisory Solutions Corp. bought a new stake in shares of Alamos Gold in the 1st quarter valued at about $203,000. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in Alamos Gold by 18.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,785 shares of the basic materials company’s stock valued at $216,000 after acquiring an additional 2,141 shares during the period. 64.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on AGI shares. Royal Bank of Canada lifted their price target on Alamos Gold from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Scotiabank lifted their target price 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. National Bank Financial cut shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a research report on Sunday, September 8th. Finally, Jefferies Financial Group boosted their price objective on shares of Alamos Gold from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Alamos Gold presently has a consensus rating of “Moderate Buy” and an average target price of $23.81.

Alamos Gold Stock Down 1.0 %

Shares of Alamos Gold stock opened at $20.67 on Thursday. The company has a market cap of $8.25 billion, a PE ratio of 39.75, a P/E/G ratio of 0.90 and a beta of 1.18. The business has a 50 day moving average of $18.62 and a 200 day moving average of $16.61. Alamos Gold Inc. has a 52 week low of $10.78 and a 52 week high of $21.42.

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

Alamos Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be issued a $0.025 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.10 annualized dividend and a yield of 0.48%. Alamos Gold’s dividend payout ratio (DPR) is presently 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.