Alamos Gold Inc. $AGI Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia cut its stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 6.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 564,712 shares of the basic materials company’s stock after selling 38,919 shares during the quarter. Bank of Nova Scotia’s holdings in Alamos Gold were worth $25,118,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Atlantic Union Bankshares Corp purchased a new position in shares of Alamos Gold in the 4th quarter worth $25,000. Clearstead Advisors LLC grew its position in Alamos Gold by 62.7% during the fourth quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 251 shares during the period. Smartleaf Asset Management LLC grew its position in Alamos Gold by 44.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 722 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 222 shares during the period. Parallel Advisors LLC acquired a new stake in Alamos Gold during the first quarter worth about $35,000. Finally, Bayforest Capital Ltd acquired a new stake in Alamos Gold during the fourth quarter worth about $44,000. 64.33% of the stock is owned by hedge funds and other institutional investors.

Alamos Gold Price Performance

Shares of NYSE AGI opened at $29.59 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 1.61. Alamos Gold Inc. has a 1-year low of $23.92 and a 1-year high of $55.41. The company has a market capitalization of $12.39 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 0.38 and a beta of 0.55. The business has a 50-day moving average of $33.90 and a 200-day moving average of $40.71.

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, meeting the consensus estimate of $0.54. The business had revenue of $596.70 million for the quarter, compared to the consensus estimate of $612.35 million. Alamos Gold had a return on equity of 18.03% and a net margin of 51.24%.The company’s revenue was up 79.2% on a year-over-year basis. During the same period last year, the business posted $0.14 EPS. On average, equities analysts anticipate that Alamos Gold Inc. will post 2.19 EPS for the current fiscal year.

Alamos Gold Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AGI. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Alamos Gold in a report on Saturday, June 20th. Wall Street Zen raised shares of Alamos Gold from a “hold” rating to a “buy” rating in a research report on Saturday. Scotiabank restated an “outperform” rating on shares of Alamos Gold in a report on Tuesday, July 14th. Royal Bank Of Canada reduced their price target on shares of Alamos Gold from $52.00 to $42.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Finally, Weiss Ratings lowered shares of Alamos Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $47.50.

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.