Hillsdale Investment Management Reduces Stake in Alamos Gold Inc.

Hillsdale Investment Management Inc. has reduced its stake in Alamos Gold Inc. (NYSE:AGI) by a significant 45.5% during the fourth quarter, as reported in their latest filing with the Securities and Exchange Commission. Following the sale of 336,700 shares, Hillsdale now holds 404,000 shares in the company. At the close of this recent quarter, the value of their holdings amounted to approximately $7,445,000, representing about 0.10% of Alamos Gold.

Institutional Investors Adjust Their Positions

Several other institutional investors have also made adjustments to their positions in Alamos Gold. For example, CIBC Asset Management Inc. increased its holdings by 59.0% in the fourth quarter, acquiring an additional 2,867,027 shares, which brought their total to 7,726,726 shares, valued at around $142,936,000. FMR LLC also raised its position by 50.8% in the previous quarter, owning 6,374,543 shares worth $127,027,000 after purchasing 2,148,153 additional shares. Other notable transactions include Addenda Capital Inc. buying new shares valued at $34,869,000 and Raymond James Financial Inc. increasing its stake by $28,950,000. Furthermore, Jupiter Asset Management Ltd. expanded its holdings by 55.2%, now holding 1,615,833 shares worth about $29,796,000. Overall, institutional investors and hedge funds collectively own about 64.33% of Alamos Gold's stock.

Alamos Gold Stock Performance

The stock of Alamos Gold opened at $26.06 on the latest trading session. Currently, the stock has a 50-day moving average price of $22.46 and a 200-day moving average price of $20.45. Over the past year, the shares have seen a low of $13.44 and a high of $26.35. Analysis shows that Alamos Gold has a current ratio of 1.51, a quick ratio of 0.96, and a low debt-to-equity ratio of 0.08, with a market capitalization of $10.95 billion. The company's PE ratio stands at 37.76, the price-to-earnings-growth ratio is 0.40, and the beta value is 1.15.

Recent Earnings Report

On February 19, Alamos Gold reported its quarterly earnings. The company achieved earnings of $0.25 per share (EPS), slightly surpassing analysts' expectations of $0.24 by $0.01. With a return on equity of 10.05% and a net margin of 21.11%, the firm reported total revenue of $375.80 million, which fell short of the anticipated $388.06 million. Analysts currently predict an EPS of 1.29 for the year ahead.

Dividend Announcement

Additionally, Alamos Gold has declared a quarterly dividend scheduled to be paid on March 27 to shareholders on record as of March 13. The dividend is set at $0.025 per share, translating to an annualized dividend yield of 0.38%. The dividend payout ratio stands at 14.49%.

Analysts' Outlook

Alamos Gold has drawn the attention of various analysts, resulting in updated price targets. The Royal Bank of Canada raised its price target from $25.00 to $27.00 while also rating the stock as "outperform" in a report released on February 11. On December 3, National Bank Financial upgraded their rating from "sector perform" to "outperform." A broad consensus reveals that six research analysts have issued buy ratings for the stock, positioning Alamos Gold with an average rating of "Buy" and a consensus price target of $26.06.

Company Overview

Alamos Gold Inc. is involved in the acquisition, exploration, development, and extraction of precious metals, primarily focusing on gold deposits in Canada and Mexico. The company owns full interests in several mining operations including the Young-Davidson mine, the Island Gold mine in Ontario, Canada, the Mulatos mine in Sonora, Mexico, and the Lynn Lake project located in Manitoba, Canada.

investment, stocks, Alamos, gold, Hillsdale