Jupiter Asset Management Ltd. has decreased its stake in Alamos Gold Inc. (NYSE: AGI) by 11.6% during the second quarter, according to a recent filing with the U.S. Securities and Exchange Commission (SEC). The asset management firm now holds 1,428,822 shares of the mining company following the sale of 187,011 shares in this period, bringing the total value of its holdings to approximately $37.93 million.
This adjustment in holdings reflects a broader trend among institutional investors, as several other firms have also modified their positions in Alamos Gold. For instance, Ameritas Advisory Services LLC entered a new stake valued at $30,000 during the second quarter. Additionally, Banque Transatlantique SA acquired shares worth around $31,000 in the first quarter, while SBI Securities Co. Ltd. increased its holdings by 67%, bringing its total to 1,645 shares valued at $44,000 after purchasing an additional 660 shares. Other investors, such as SVB Wealth LLC and Banque Cantonale Vaudoise, made similar moves, with new positions valued at approximately $67,000 and $68,000, respectively. Currently, institutional investors own approximately 64.33% of Alamos Gold’s stock.
Current Market Performance and Financial Metrics
On Wednesday, Alamos Gold’s shares opened at $32.68. Over the past year, the stock has experienced notable fluctuations, with a low of $17.42 and a high of $37.54. The company has a market capitalization of $13.75 billion and maintains a price-to-earnings ratio of 25.53. With a debt-to-equity ratio of 0.07, a quick ratio of 1.00, and a current ratio of 1.49, Alamos Gold appears financially stable.
Additionally, the company recently announced a quarterly dividend of $0.025 per share, which was paid on September 25, 2023. Shareholders on record as of September 11, 2023 received this dividend, resulting in an annualized dividend of $0.10 and a yield of 0.3%. The dividend payout ratio currently stands at 7.81%.
Analyst Ratings and Future Outlook
Several research firms have recently assessed Alamos Gold’s performance. TD Securities reissued a “buy” rating on the company’s shares, while Wall Street Zen upgraded the stock from “hold” to “buy.” National Bankshares maintained an “outperform” rating, and Bank of America increased its price target from $40.00 to $43.00, also assigning a “buy” rating. In total, three analysts classify Alamos Gold with a Strong Buy rating, while eight have given it a Buy rating and one has issued a Hold rating. Data from MarketBeat.com indicates a consensus rating of “Buy” with an average target price of $41.00.
Alamos Gold Inc. focuses on the acquisition, exploration, development, and extraction of precious metals in Canada and Mexico, primarily targeting gold deposits. The company wholly owns several projects, including the Young-Davidson mine and Island Gold mine in Ontario, Canada, as well as the Mulatos mine in Sonora, Mexico, and the Lynn Lake project in Manitoba, Canada.
