PNC Financial Services Group Inc. Reduces Stock Holdings in Alamos Gold Inc. (NYSE:AGI)

PNC Financial Services Group Inc. lessened its stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 8.3% in the fourth quarter, Holdings Channel reports. The fund owned 7,009 shares of the basic materials company’s stock after selling 634 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Alamos Gold were worth $129,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of Alamos Gold in the fourth quarter valued at $645,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in Alamos Gold by 16.8% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 44,833 shares of the basic materials company’s stock worth $827,000 after buying an additional 6,458 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Alamos Gold in the 4th quarter valued at about $4,495,000. Raymond James Financial Inc. acquired a new stake in shares of Alamos Gold during the fourth quarter valued at about $28,950,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Alamos Gold during the fourth quarter worth about $1,147,000. Hedge funds and other institutional investors own 64.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AGI. National Bank Financial raised Alamos Gold from a “sector perform” rating to an “outperform” rating in a report on Tuesday, December 3rd. Royal Bank of Canada upped their target price on Alamos Gold from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $26.06.

Alamos Gold Stock Performance

Shares of AGI stock opened at $25.67 on Tuesday. The stock has a market capitalization of $10.79 billion, a price-to-earnings ratio of 37.21, a PEG ratio of 0.40 and a beta of 1.15. Alamos Gold Inc. has a one year low of $13.53 and a one year high of $26.35. The company’s 50-day simple moving average is $22.59 and its 200-day simple moving average is $20.53. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.51.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its earnings results on Wednesday, February 19th. The basic materials company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $375.80 million for the quarter, compared to the consensus estimate of $388.06 million. Alamos Gold had a return on equity of 10.05% and a net margin of 21.11%. Equities analysts anticipate that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Thursday, March 13th. Alamos Gold’s dividend payout ratio is presently 14.49%.

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.