Bank of Nova Scotia Acquires New Holdings in Alamos Gold Inc. (NYSE:AGI)

Bank of Nova Scotia purchased a new stake in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 14,354 shares of the basic materials company's stock, valued at approximately $265,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in shares of Alamos Gold by 155.7% during the fourth quarter. Blue Trust Inc. now owns 1,900 shares of the basic materials company's stock worth $38,000 after buying an additional 1,157 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Alamos Gold by 51.8% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,510 shares of the basic materials company's stock valued at $46,000 after buying an additional 856 shares during the last quarter. R Squared Ltd acquired a new stake in Alamos Gold during the 4th quarter worth $61,000. Daiwa Securities Group Inc. purchased a new position in Alamos Gold during the 4th quarter worth $136,000. Finally, XTX Topco Ltd purchased a new stake in shares of Alamos Gold in the third quarter valued at about $207,000. Hedge funds and other institutional investors own 64.33% of the company's stock.

Alamos Gold Price Performance

AGI traded up $0.20 during trading on Monday, reaching $29.78. The stock had a trading volume of 912,028 shares, compared to its average volume of 2,524,492. The company has a quick ratio of 0.96, a current ratio of 1.51 and a debt-to-equity ratio of 0.08. The stock has a 50 day moving average of $25.24 and a two-hundred day moving average of $21.57. Alamos Gold Inc. has a 1-year low of $14.31 and a 1-year high of $32.06. The firm has a market capitalization of $12.52 billion, a price-to-earnings ratio of 43.23, a price-to-earnings-growth ratio of 0.40 and a beta of 1.02.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last announced its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.25 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.01. Alamos Gold had a return on equity of 10.05% and a net margin of 21.11%. The company had revenue of $375.80 million during the quarter, compared to the consensus estimate of $388.06 million. As a group, equities analysts anticipate that Alamos Gold Inc. will post 1.29 EPS for the current fiscal year.

Alamos Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.34%. Alamos Gold's dividend payout ratio is currently 14.49%.

Analyst Upgrades and Downgrades

AGI has been the subject of several analyst reports. Royal Bank of Canada upped their price objective on Alamos Gold from $27.00 to $30.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. National Bank Financial upgraded shares of Alamos Gold to a "strong-buy" rating in a research report on Friday, March 21st. StockNews.com raised Alamos Gold from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. Scotiabank reaffirmed an "outperform" rating on shares of Alamos Gold in a research note on Monday, April 14th. Finally, Bank of America lowered their price objective on shares of Alamos Gold from $31.00 to $30.50 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $30.38.

Alamos Gold 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.