Van ECK Associates Corp Reduces Holdings in Alamos Gold Inc. (NYSE:AGI)

Van ECK Associates Corp lowered its position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 7.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,438,697 shares of the basic materials company’s stock after selling 3,204,202 shares during the period. Alamos Gold comprises about 1.0% of Van ECK Associates Corp’s holdings, making the stock its 22nd largest position. Van ECK Associates Corp owned 10.10% of Alamos Gold worth $782,568,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. increased its position in Alamos Gold by 155.7% during the fourth quarter. Blue Trust Inc. now owns 1,900 shares of the basic materials company’s stock worth $38,000 after buying an additional 1,157 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Alamos Gold by 51.8% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,510 shares of the basic materials company’s stock worth $46,000 after buying an additional 856 shares during the last quarter. Hara Capital LLC acquired a new position in shares of Alamos Gold in the third quarter valued at approximately $47,000. R Squared Ltd acquired a new position in Alamos Gold in the 4th quarter valued at $61,000. Finally, Eastern Bank purchased a new stake in shares of Alamos Gold in the third quarter valued at about $111,000. 64.33% of the stock is owned by hedge funds and other institutional investors.

Alamos Gold Stock Up 1.6 %

AGI stock opened at $22.85 on Thursday. The company has a 50 day moving average price of $19.71 and a two-hundred day moving average price of $19.40. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.97 and a current ratio of 1.62. The stock has a market capitalization of $9.61 billion, a P/E ratio of 38.08, a PEG ratio of 0.66 and a beta of 1.16. Alamos Gold Inc. has a one year low of $11.24 and a one year high of $23.06.

Alamos Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Thursday, December 5th. Alamos Gold’s dividend payout ratio is currently 16.67%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AGI shares. National Bank Financial raised shares of Alamos Gold from a “sector perform” rating to an “outperform” rating in a report on Tuesday, December 3rd. StockNews.com lowered shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada upped their price target on Alamos Gold from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $26.06.

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.