Is Alamos Gold (AGI) a Worthy Investment?

Palm Valley Capital Management, an investment management firm, released its fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, Palm Valley Capital Fund returned 3.86% compared to a 9.19% rise for the S&P SmallCap 600 Index and an 8.05% return for the Morningstar Small Cap Index. A large cash position led the fund to underperform its benchmark index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Palm Valley Capital highlighted stocks like Alamos Gold Inc. (NYSE:AGI) in its Q4 2022 investor letter. Alamos Gold Inc. (NYSE:AGI) is a gold producer. On January 6, 2023, Alamos Gold Inc. (NYSE:AGI) stock closed at $10.86 per share. One-month return of Alamos Gold Inc. (NYSE:AGI) was 9.81%, and its shares gained 51.04% of their value over the last 52 weeks. Alamos Gold Inc. (NYSE:AGI) has a market capitalization of $4.297 billion.

Palm Valley Capital made the following comment about Alamos Gold Inc. (NYSE:AGI) in its Q4 2022 investor letter:

“For the full calendar year, the Fund’s top performers were Coterra Energy (ticker: CTRA), Amdocs, and Alamos Gold Inc. (NYSE:AGI). Coterra’s stock rose sharply along with energy prices at the beginning of 2022. Amdocs delivered record operating results during the year and demonstrated the strength of its market position serving the world’s leading communication service providers. All the Fund’s precious metals holdings, led by Alamos, contributed positively to performance in 2022, with a 1% collective contribution from gold and silver equities. We think this was a good outcome relative to gold and silver prices that ended the year essentially flat, after a summer swoon. Additionally, precious metals miners were down, on average, in 2022.”

Alamos Gold Inc. (NYSE:AGI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 21 hedge fund portfolios held Alamos Gold Inc. (NYSE:AGI) at the end of the third quarter which was 19 in the previous quarter.

We discussed Alamos Gold Inc. (NYSE:AGI) in another article and shared the best gold stocks with dividends. In addition, please check out our  hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.