Alamos Gold Inc. $AGI Shares Bought by Bank of America Corp DE

Bank of America Corp DE boosted its holdings in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 5.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,438,796 shares of the basic materials company’s stock after purchasing an additional 128,299 shares during the quarter. Bank of America Corp DE’s holdings in Alamos Gold were worth $108,356,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sunbelt Securities Inc. acquired a new stake in shares of Alamos Gold in the first quarter worth $59,000. Amundi boosted its holdings in Alamos Gold by 6.1% in the first quarter. Amundi now owns 3,411,224 shares of the basic materials company’s stock valued at $151,561,000 after purchasing an additional 197,486 shares during the last quarter. Parvin Asset Management LLC grew its position in Alamos Gold by 1.8% during the 1st quarter. Parvin Asset Management LLC now owns 35,390 shares of the basic materials company’s stock worth $1,572,000 after purchasing an additional 625 shares during the period. EverSource Wealth Advisors LLC grew its position in Alamos Gold by 73.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,497 shares of the basic materials company’s stock worth $111,000 after purchasing an additional 1,056 shares during the period. Finally, Encompass Capital Advisors LLC purchased a new position in shares of Alamos Gold during the 1st quarter valued at about $13,332,000. 64.33% of the stock is currently owned by institutional investors and hedge funds.

Alamos Gold Price Performance

Alamos Gold stock opened at $33.23 on Friday. The company’s fifty day moving average price is $31.95 and its 200 day moving average price is $39.90. Alamos Gold Inc. has a 1 year low of $25.31 and a 1 year high of $55.41. The stock has a market capitalization of $13.91 billion, a P/E ratio of 11.99, a P/E/G ratio of 0.41 and a beta of 0.56. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.67 and a current ratio of 2.07.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. The company had revenue of $594.10 million during the quarter, compared to analysts’ expectations of $593.58 million. Alamos Gold had a net margin of 52.64% and a return on equity of 19.28%. The firm’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.34 earnings per share. As a group, equities research analysts anticipate that Alamos Gold Inc. will post 2.18 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The company 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 annualized dividend and a yield of 0.5%. The ex-dividend date was Thursday, June 11th. Alamos Gold’s payout ratio is 5.78%.

Analysts Set New Price Targets

AGI has been the topic of several analyst reports. Jefferies Financial Group dropped their target price on Alamos Gold from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Alamos Gold in a research note on Saturday, June 20th. Wall Street Zen lowered shares of Alamos Gold from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Weiss Ratings downgraded shares of Alamos Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 23rd. Finally, Bank of America lowered their price target on shares of Alamos Gold from $50.00 to $39.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.