Bank of New York Mellon Corp Purchases 770,569 Shares of Alamos Gold Inc. $AGI

Bank of New York Mellon Corp raised its position in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 74.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,809,382 shares of the basic materials company’s stock after acquiring an additional 770,569 shares during the period. Bank of New York Mellon Corp’s holdings in Alamos Gold were worth $69,806,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of AGI. Vanguard Group Inc. raised its stake in shares of Alamos Gold by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 17,233,606 shares of the basic materials company’s stock worth $600,712,000 after purchasing an additional 524,263 shares in the last quarter. Cannell & Spears LLC raised its stake in shares of Alamos Gold by 512.4% during the 3rd quarter. Cannell & Spears LLC now owns 1,276,296 shares of the basic materials company’s stock worth $44,492,000 after purchasing an additional 1,067,883 shares in the last quarter. Alps Advisors Inc. raised its stake in shares of Alamos Gold by 35.5% during the 3rd quarter. Alps Advisors Inc. now owns 92,436 shares of the basic materials company’s stock worth $3,222,000 after purchasing an additional 24,223 shares in the last quarter. Montrusco Bolton Investments Inc. raised its stake in shares of Alamos Gold by 36.3% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 547,567 shares of the basic materials company’s stock worth $19,090,000 after purchasing an additional 145,843 shares in the last quarter. Finally, Public Sector Pension Investment Board bought a new stake in shares of Alamos Gold during the 3rd quarter worth approximately $1,095,000. Institutional investors own 64.33% of the company’s stock.

Alamos Gold Stock Down 2.5%

AGI stock opened at $34.97 on Wednesday. The company has a current ratio of 2.01, a quick ratio of 1.61 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $14.68 billion, a PE ratio of 13.93, a PEG ratio of 0.46 and a beta of 0.49. Alamos Gold Inc. has a 1-year low of $23.92 and a 1-year high of $55.41. The business’s 50 day simple moving average is $42.67 and its 200 day simple moving average is $42.11.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its earnings results on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. The business had revenue of $596.70 million for the quarter, compared to analyst estimates of $612.35 million. Alamos Gold had a return on equity of 18.03% and a net margin of 51.24%.The firm’s revenue was up 79.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.14 EPS. As a group, research analysts anticipate that Alamos Gold Inc. will post 2.46 EPS for the current year.

Alamos Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 11th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. Alamos Gold’s payout ratio is presently 6.37%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AGI. Wall Street Zen cut Alamos Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 1st. Weiss Ratings cut Alamos Gold from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Alamos Gold currently has an average rating of “Buy” and an average target price of $50.67.

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.