Bank of New York Mellon Corp Has $70.11 Million Position in Alamos Gold Inc. $AGI

Bank of New York Mellon Corp lessened its position in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 12.8% in the first quarter, according to the company in its most recent 13F filing 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’s holdings in Alamos Gold were worth $70,106,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its holdings 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 lifted its stake in Alamos Gold by 2.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,760 shares of the basic materials company’s stock valued at $454,000 after purchasing an additional 229 shares during the last quarter. Clearstead Advisors LLC grew its holdings in 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 position in Alamos Gold by 1.3% during the fourth quarter. Sheets Smith Wealth Management now owns 20,098 shares of the basic materials company’s stock worth $775,000 after buying an additional 258 shares during the last quarter. Finally, Private Advisor Group LLC increased its position in Alamos Gold by 3.2% during the third quarter. Private Advisor Group LLC now owns 9,739 shares of the basic materials company’s stock worth $340,000 after buying an additional 300 shares during the last quarter. 64.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AGI has been the topic of several research analyst reports. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Alamos Gold in a research report on Saturday, June 20th. Scotiabank reissued an “outperform” rating on shares of Alamos Gold in a report on Tuesday, July 14th. Royal Bank Of Canada dropped their price target on Alamos Gold from $52.00 to $42.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Bank of America dropped 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 report on Thursday, July 9th. Finally, Wall Street Zen downgraded shares of Alamos Gold from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Alamos Gold presently has a consensus rating of “Moderate Buy” and an average target price of $47.50.

Alamos Gold Price Performance

Shares of Alamos Gold stock opened at $30.50 on Thursday. The company has a quick ratio of 1.61, a current ratio of 2.01 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $12.77 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 0.38 and a beta of 0.55. Alamos Gold Inc. has a twelve month low of $23.92 and a twelve month high of $55.41. The company has a 50-day simple moving average of $34.39 and a two-hundred day simple moving average of $40.85.

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

Alamos Gold Announces Dividend

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

About Alamos Gold

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.