Empyrean Capital Partners LP Cuts Position in Alamos Gold Inc. (NYSE:AGI)

Empyrean Capital Partners LP cut its stake in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 9.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Baldwin Brothers LLC MA purchased a new stake in shares of Alamos Gold during the second quarter valued at approximately $47,000. Daiwa Securities Group Inc. purchased a new stake in shares of Alamos Gold during the 2nd quarter valued at $48,000. St. Johns Investment Management Company LLC bought a new stake in shares of Alamos Gold in the first quarter valued at $115,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of Alamos Gold during the first quarter worth $203,000. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in Alamos Gold by 18.4% in 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 purchasing an additional 2,141 shares during the period. 64.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Alamos Gold Stock Performance

Shares of NYSE:AGI traded down $0.24 on Thursday, reaching $20.44. The company's stock had a trading volume of 3,550,806 shares, compared to its average volume of 2,353,256. The company has a 50-day simple moving average of $18.62 and a 200 day simple moving average of $16.61. Alamos Gold Inc. has a 52-week low of $10.78 and a 52-week high of $21.42. The company has a market cap of $8.16 billion, a P/E ratio of 39.31, a PEG ratio of 0.90 and a beta of 1.18.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share for the quarter, beating 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 company had revenue of $332.60 million during the quarter, compared to analyst estimates of $282.78 million. The firm's revenue for the quarter was up 27.4% on a year-over-year basis. During the same quarter last year, the business posted $0.15 EPS. On average, equities research analysts forecast that Alamos Gold Inc. will post 0.75 EPS for the current fiscal year.

Alamos Gold Dividend Announcement

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 given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Thursday, September 12th. Alamos Gold's payout ratio is currently 19.23%.

Alamos Gold Company 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.