Millennium Management LLC Has $44.15 Million Stake in Alamos Gold Inc. (NYSE:AGI)

Millennium Management LLC cut its stake in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 8.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,815,527 shares of the basic materials company's stock after selling 243,351 shares during the quarter. Millennium Management LLC owned approximately 0.71% of Alamos Gold worth $44,147,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Baldwin Brothers LLC MA bought a new stake in Alamos Gold in the 2nd quarter valued at $47,000. Daiwa Securities Group Inc. bought a new stake in shares of Alamos Gold in the second quarter valued at about $48,000. Employees Retirement System of Texas acquired a new position in shares of Alamos Gold in the second quarter valued at about $88,000. St. Johns Investment Management Company LLC acquired a new stake in Alamos Gold in the 1st quarter worth about $115,000. Finally, Coppell Advisory Solutions Corp. bought a new stake in Alamos Gold in the 1st quarter valued at about $203,000. Institutional investors and hedge funds own 64.33% of the company's stock.

Alamos Gold Price Performance

Shares of AGI stock traded down $0.06 on Wednesday, hitting $20.14. 2,137,771 shares of the company's stock were exchanged, compared to its average volume of 2,366,799. The company has a 50 day moving average of $18.86 and a 200 day moving average of $16.81. The stock has a market cap of $8.04 billion, a P/E ratio of 38.62, a price-to-earnings-growth ratio of 0.90 and a beta of 1.18. Alamos Gold Inc. has a 12 month low of $10.78 and a 12 month high of $21.42.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last posted its quarterly earnings results 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. The company had revenue of $332.60 million for the quarter, compared to the consensus estimate of $282.78 million. Alamos Gold had a net margin of 17.73% and a return on equity of 8.52%. The firm's quarterly revenue was up 27.4% compared to the same quarter last year. During the same period last year, the company posted $0.15 EPS. Sell-side analysts predict that Alamos Gold Inc. will post 0.75 EPS for the current fiscal year.

Alamos Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Thursday, September 12th. Alamos Gold's payout ratio is 19.23%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AGI. Jefferies Financial Group raised their target price on shares of Alamos Gold from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Friday, September 13th. National Bank Financial cut Alamos Gold from a "strong-buy" rating to a "hold" rating in a report on Sunday, September 8th. Scotiabank raised their price target on Alamos Gold from $20.00 to $22.00 and gave the stock a "sector outperform" rating in a research report on Monday, August 19th. Finally, Royal Bank of Canada increased their price objective on shares of Alamos Gold from $20.00 to $23.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 10th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Alamos Gold currently has a consensus rating of "Moderate Buy" and an average price target of $23.81.

About Alamos Gold

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.