Lord Abbett & CO. LLC Trims Stake in Alamos Gold Inc. (NYSE:AGI)

Lord Abbett & CO. LLC trimmed its position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 54.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 361,561 shares of the basic materials company’s stock after selling 440,161 shares during the period. Lord Abbett & CO. LLC’s holdings in Alamos Gold were worth $7,205,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AGI. Old West Investment Management LLC increased its stake in shares of Alamos Gold by 11.0% during the third quarter. Old West Investment Management LLC now owns 485,892 shares of the basic materials company’s stock valued at $9,689,000 after buying an additional 48,128 shares during the period. DORCHESTER WEALTH MANAGEMENT Co bought a new position in shares of Alamos Gold during the 3rd quarter valued at $1,196,000. Mackenzie Financial Corp increased its position in shares of Alamos Gold by 147.6% during the 2nd quarter. Mackenzie Financial Corp now owns 7,585,450 shares of the basic materials company’s stock valued at $119,003,000 after purchasing an additional 4,521,282 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in Alamos Gold in the third quarter worth about $793,000. Finally, National Bank of Canada FI lifted its stake in shares of Alamos Gold by 18.4% during the 3rd quarter. National Bank of Canada FI now owns 1,529,315 shares of the basic materials company’s stock valued at $30,492,000 after buying an additional 237,278 shares in the last quarter. Institutional investors own 64.33% of the company’s stock.

Alamos Gold Price Performance

AGI stock opened at $19.11 on Tuesday. Alamos Gold Inc. has a one year low of $11.24 and a one year high of $21.45. The firm’s 50 day moving average price is $19.47 and its 200-day moving average price is $18.41. The firm has a market cap of $8.03 billion, a PE ratio of 31.84, a PEG ratio of 0.93 and a beta of 1.15. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.97 and a current ratio of 1.62.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.03). Alamos Gold had a net margin of 19.89% and a return on equity of 8.85%. The business had revenue of $360.90 million during the quarter. On average, equities research analysts anticipate that Alamos Gold Inc. will post 0.77 EPS for the current year.

Alamos Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a dividend of $0.025 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.10 annualized dividend and a yield of 0.52%. Alamos Gold’s dividend payout ratio is currently 16.67%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AGI shares. Royal Bank of Canada increased their price target on Alamos Gold from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. StockNews.com downgraded shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 22nd. National Bank Financial upgraded shares of Alamos Gold from a “sector perform” rating to an “outperform” rating in a report on Tuesday, December 3rd. Scotiabank upped their target price on Alamos Gold from $20.00 to $22.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Finally, Jefferies Financial Group upped their target price on Alamos Gold from $23.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Alamos Gold presently has an average rating of “Buy” and an average price target of $25.06.

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.