Mirae Asset Global Investments Co. Ltd. Lowers Stake in Alamos Gold Inc. (NYSE:AGI)

Mirae Asset Global Investments Co. Ltd. lowered its stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 22.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 104,256 shares of the basic materials company’s stock after selling 29,724 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Alamos Gold were worth $1,409,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of AGI. Anchor Investment Management LLC purchased a new stake in shares of Alamos Gold during the 4th quarter valued at $27,000. Tower Research Capital LLC TRC lifted its holdings in shares of Alamos Gold by 230.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,948 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 2,752 shares during the last quarter. IFP Advisors Inc purchased a new stake in shares of Alamos Gold during the 2nd quarter valued at $84,000. Fifth Third Bancorp purchased a new stake in shares of Alamos Gold during the 4th quarter valued at $96,000. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of Alamos Gold by 58.8% during the 1st quarter. Brown Brothers Harriman & Co. now owns 9,901 shares of the basic materials company’s stock valued at $83,000 after purchasing an additional 3,665 shares during the last quarter. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Alamos Gold Trading Up 1.6 %

Shares of Alamos Gold stock opened at $15.30 on Monday. The firm has a market capitalization of $6.09 billion, a PE ratio of 28.87, a P/E/G ratio of 3.85 and a beta of 1.15. Alamos Gold Inc. has a twelve month low of $10.78 and a twelve month high of $16.01. The firm’s 50-day moving average price is $13.45 and its 200 day moving average price is $13.15.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. The firm had revenue of $254.60 million for the quarter, compared to analyst estimates of $257.47 million. Alamos Gold had a net margin of 20.52% and a return on equity of 7.30%. Alamos Gold’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company posted $0.09 EPS. On average, sell-side analysts predict that Alamos Gold Inc. will post 0.64 EPS for the current fiscal year.

Alamos Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Wednesday, March 13th. Alamos Gold’s dividend payout ratio is presently 18.87%.

Analysts Set New Price Targets

AGI has been the subject of several analyst reports. StockNews.com upgraded Alamos Gold from a “hold” rating to a “buy” rating in a report on Sunday, April 14th. Bank of America upgraded Alamos Gold from a “neutral” rating to a “buy” rating and raised their target price for the stock from $21.75 to $27.25 in a research note on Tuesday, April 9th. National Bank Financial restated an “outperform overweight” rating on shares of Alamos Gold in a research note on Monday, April 8th. Royal Bank of Canada upgraded Alamos Gold from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $12.00 to $16.00 in a research note on Thursday, January 11th. Finally, Jefferies Financial Group began coverage on Alamos Gold in a research report on Thursday, February 29th. They set a “buy” rating and a $14.00 target price on the stock. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $16.95.

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.