Bank of New York Mellon Corp Trims Stock Position in Alamos Gold Inc. (NYSE:AGI)

Bank of New York Mellon Corp lowered its position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 47.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,063,464 shares of the basic materials company’s stock after selling 960,169 shares during the period. Bank of New York Mellon Corp owned 0.25% of Alamos Gold worth $28,437,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Alamos Gold by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 15,995,738 shares of the basic materials company’s stock worth $295,105,000 after acquiring an additional 279,280 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Alamos Gold in the 1st quarter worth approximately $320,000. Goehring & Rozencwajg Associates LLC lifted its holdings in shares of Alamos Gold by 2.3% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,223,257 shares of the basic materials company’s stock worth $31,915,000 after acquiring an additional 27,032 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Alamos Gold by 5.3% in the 4th quarter. Deutsche Bank AG now owns 171,943 shares of the basic materials company’s stock worth $3,171,000 after acquiring an additional 8,681 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new stake in shares of Alamos Gold in the 1st quarter worth approximately $222,000. 64.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on AGI shares. Bank of America decreased their target price on shares of Alamos Gold from $31.00 to $30.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Scotiabank reaffirmed an “outperform” rating on shares of Alamos Gold in a research note on Monday, April 14th. CIBC reaffirmed an “outperform” rating on shares of Alamos Gold in a research note on Tuesday. Stifel Nicolaus started coverage on shares of Alamos Gold in a research note on Wednesday, July 9th. They issued a “buy” rating on the stock. Finally, Wall Street Zen downgraded shares of Alamos Gold from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $30.38.

Alamos Gold Stock Down 1.4%

Shares of Alamos Gold stock opened at $25.94 on Thursday. The company has a current ratio of 1.49, a quick ratio of 0.94 and a debt-to-equity ratio of 0.07. The company’s fifty day simple moving average is $26.31 and its two-hundred day simple moving average is $24.69. The company has a market cap of $10.91 billion, a P/E ratio of 41.84, a PEG ratio of 0.55 and a beta of 0.54. Alamos Gold Inc. has a 12-month low of $15.74 and a 12-month high of $31.00.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). The company had revenue of $333.00 million for the quarter, compared to analysts’ expectations of $324.98 million. Alamos Gold had a net margin of 18.36% and a return on equity of 9.83%. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 earnings per share. Research analysts anticipate that Alamos Gold Inc. will post 1.29 EPS for the current year.

Alamos Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend was Thursday, June 12th. Alamos Gold’s dividend payout ratio is currently 16.13%.

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.