Van ECK Associates Corp Lowers Position in Alamos Gold Inc. (NYSE:AGI)

Van ECK Associates Corp lowered its stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 7.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 42,438,697 shares of the basic materials company’s stock after selling 3,204,202 shares during the period. Alamos Gold comprises approximately 1.0% of Van ECK Associates Corp’s holdings, making the stock its 22nd biggest holding. Van ECK Associates Corp owned approximately 0.10% of Alamos Gold worth $782,568,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Blue Trust Inc. increased its holdings in shares of Alamos Gold by 155.7% during the 4th 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 last quarter. Hara Capital LLC acquired a new position in Alamos Gold in the third quarter valued at $47,000. Thurston Springer Miller Herd & Titak Inc. grew its position in 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 valued at $46,000 after acquiring an additional 856 shares during the period. R Squared Ltd acquired a new stake in Alamos Gold during the fourth quarter worth about $61,000. Finally, Eastern Bank acquired a new stake in Alamos Gold during the third quarter worth about $111,000. Institutional investors and hedge funds own 64.33% of the company’s stock.

Alamos Gold Stock Up 1.6 %

Shares of NYSE:AGI opened at $22.85 on Thursday. Alamos Gold Inc. has a 52-week low of $11.24 and a 52-week high of $23.06. The company has a market capitalization of $9.61 billion, a price-to-earnings ratio of 38.08, a price-to-earnings-growth ratio of 0.66 and a beta of 1.16. The company has a quick ratio of 0.97, a current ratio of 1.62 and a debt-to-equity ratio of 0.08. The company has a 50 day moving average of $19.71 and a two-hundred day moving average of $19.40.

Alamos Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were paid a $0.025 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.10 dividend on an annualized basis and a yield of 0.44%. Alamos Gold’s dividend payout ratio (DPR) is 16.67%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AGI. National Bank Financial upgraded Alamos Gold from a “sector perform” rating to an “outperform” rating in a report on Tuesday, December 3rd. StockNews.com cut 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 increased their price objective on shares of Alamos Gold from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Tuesday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alamos Gold currently has an average rating of “Buy” and a consensus price target of $26.06.

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.