Bank of New York Mellon Corp Sells 231,490 Shares of Alamos Gold Inc. $AGI

Bank of New York Mellon Corp reduced its holdings in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 12.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,577,892 shares of the basic materials company’s stock after selling 231,490 shares during the period. Bank of New York Mellon Corp owned approximately 0.38% of Alamos Gold worth $70,106,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AGI. Smartleaf Asset Management LLC lifted its stake in shares of Alamos Gold by 44.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 722 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 222 shares during the period. O Shaughnessy Asset Management LLC grew its stake in shares of Alamos Gold by 2.0% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 11,760 shares of the basic materials company’s stock worth $454,000 after purchasing an additional 229 shares during the period. Clearstead Advisors LLC grew its stake in shares of Alamos Gold by 62.7% during the fourth quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 251 shares during the period. Sheets Smith Wealth Management increased its holdings in Alamos Gold by 1.3% in the fourth quarter. Sheets Smith Wealth Management now owns 20,098 shares of the basic materials company’s stock valued at $775,000 after purchasing an additional 258 shares during the last quarter. Finally, Private Advisor Group LLC increased its holdings in Alamos Gold by 3.2% in the third quarter. Private Advisor Group LLC now owns 9,739 shares of the basic materials company’s stock valued at $340,000 after purchasing an additional 300 shares during the last quarter. 64.33% of the stock is owned by institutional investors.

Alamos Gold Stock Up 3.3%

Alamos Gold stock opened at $30.50 on Thursday. The company has a market cap of $12.77 billion, a P/E ratio of 12.15, a price-to-earnings-growth ratio of 0.38 and a beta of 0.55. Alamos Gold Inc. has a 1-year low of $23.92 and a 1-year high of $55.41. The company has a fifty day simple moving average of $34.39 and a 200 day simple moving average of $40.85. The company has a current ratio of 2.01, a quick ratio of 1.61 and a debt-to-equity ratio of 0.05.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. The company had revenue of $596.70 million during the quarter, compared to the consensus estimate of $612.35 million. Alamos Gold had a net margin of 51.24% and a return on equity of 18.03%. The company’s quarterly revenue was up 79.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 EPS. Research analysts anticipate that Alamos Gold Inc. will post 2.19 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. Alamos Gold’s payout ratio is 6.37%.

Wall Street Analyst Weigh In

AGI has been the topic of a number of recent analyst reports. Royal Bank Of Canada reduced their target price on Alamos Gold from $52.00 to $42.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Scotiabank reiterated an “outperform” rating on shares of Alamos Gold in a research report on Tuesday, July 14th. Bank of America reduced their price objective on shares of Alamos Gold from $50.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Alamos Gold in a report on Saturday, June 20th. Finally, Jefferies Financial Group lowered their target price on shares of Alamos Gold from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Ten investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $47.50.

Alamos Gold Company Profile

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.