Bank of America Corp DE Acquires 432,641 Shares of Alamos Gold Inc. (NYSE:AGI)

Bank of America Corp DE grew its holdings in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 45.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,391,497 shares of the basic materials company’s stock after purchasing an additional 432,641 shares during the period. Bank of America Corp DE’s holdings in Alamos Gold were worth $25,659,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of AGI. Dimensional Fund Advisors LP increased its stake in shares of Alamos Gold by 296.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,375,892 shares of the basic materials company’s stock valued at $136,011,000 after purchasing an additional 5,516,186 shares during the last quarter. Norges Bank bought a new position in shares of Alamos Gold in the 4th quarter valued at $100,694,000. CIBC Asset Management Inc increased its stake in shares of Alamos Gold by 59.0% in the 4th quarter. CIBC Asset Management Inc now owns 7,726,726 shares of the basic materials company’s stock valued at $142,936,000 after purchasing an additional 2,867,027 shares during the last quarter. Addenda Capital Inc. bought a new stake in Alamos Gold during the 4th quarter worth $34,869,000. Finally, Raymond James Financial Inc. bought a new stake in Alamos Gold during the 4th quarter worth $28,950,000. Institutional investors own 64.33% of the company’s stock.

Analyst Ratings Changes

AGI has been the topic of a number of research reports. National Bank Financial upgraded Alamos Gold to a “strong-buy” rating in a research report on Friday, March 21st. Royal Bank of Canada lifted their target price on Alamos Gold from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, April 4th. Bank of America cut their target price on Alamos Gold from $31.00 to $30.50 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Scotiabank reaffirmed an “outperform” rating on shares of Alamos Gold in a report on Monday, April 14th. Finally, StockNews.com downgraded Alamos Gold from a “buy” rating to a “hold” rating in a report on Monday, May 5th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Alamos Gold currently has an average rating of “Moderate Buy” and a consensus price target of $30.38.

Alamos Gold Stock Down 0.4%

Shares of AGI opened at $24.44 on Friday. The company has a market capitalization of $10.28 billion, a PE ratio of 35.43, a PEG ratio of 0.40 and a beta of 0.60. The company has a current ratio of 1.51, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The stock’s 50-day moving average price is $26.67 and its two-hundred day moving average price is $22.46. Alamos Gold Inc. has a 12 month low of $15.01 and a 12 month high of $31.00.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). The business had revenue of $333.00 million during the quarter, compared to analyst estimates of $324.98 million. Alamos Gold had a net margin of 21.11% and a return on equity of 10.05%. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 earnings per share. On average, analysts anticipate that Alamos Gold Inc. will post 1.29 EPS for the current year.

Alamos Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Thursday, March 13th. Alamos Gold’s dividend payout ratio is 16.13%.

Alamos Gold Company Profile

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.