Bank of America Corp DE Boosts Stake in Alamos Gold Inc. (NYSE:AGI)

Bank of America Corp DE lifted its holdings in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 45.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,391,497 shares of the basic materials company's stock after purchasing an additional 432,641 shares during the quarter. Bank of America Corp DE owned 0.33% of Alamos Gold worth $25,659,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. raised its holdings in shares of Alamos Gold by 155.7% in the fourth quarter. Blue Trust Inc. now owns 1,900 shares of the basic materials company's stock valued at $38,000 after acquiring an additional 1,157 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Alamos Gold by 51.8% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,510 shares of the basic materials company's stock worth $46,000 after buying an additional 856 shares during the period. R Squared Ltd acquired a new position in Alamos Gold in the 4th quarter worth approximately $61,000. Cutler Capital Management LLC acquired a new position in Alamos Gold in the 4th quarter worth approximately $108,000. Finally, Daiwa Securities Group Inc. acquired a new position in Alamos Gold in the 4th quarter worth approximately $136,000. 64.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AGI has been the topic of several recent research reports. Wall Street Zen lowered Alamos Gold from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. National Bank Financial upgraded Alamos Gold to a "strong-buy" rating in a research report on Friday, March 21st. Scotiabank restated an "outperform" rating on shares of Alamos Gold in a research report on Monday, April 14th. Royal Bank of Canada upped their price objective on Alamos Gold from $27.00 to $30.00 and gave the stock an "outperform" rating in a research report on Friday, April 4th. Finally, Bank of America decreased their target price on Alamos Gold from $31.00 to $30.50 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Alamos Gold has a consensus rating of "Moderate Buy" and a consensus target price of $30.38.

Alamos Gold Price Performance

NYSE AGI traded up $0.58 during mid-day trading on Friday, hitting $26.26. The stock had a trading volume of 3,043,095 shares, compared to its average volume of 2,711,992. Alamos Gold Inc. has a twelve month low of $15.01 and a twelve month high of $31.00. The stock has a market capitalization of $11.04 billion, a price-to-earnings ratio of 38.05, a PEG ratio of 0.40 and a beta of 0.60. The firm's 50 day moving average is $26.72 and its 200 day moving average is $22.63. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.51 and a quick ratio of 0.96.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last issued its earnings results 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). Alamos Gold had a return on equity of 10.05% and a net margin of 21.11%. The company had revenue of $333.00 million during the quarter, compared to analyst estimates of $324.98 million. During the same period last year, the business earned $0.13 earnings per share. The firm's revenue was up 20.0% compared to the same quarter last year. Equities research analysts forecast that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The business 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 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend was Thursday, March 13th. Alamos Gold's payout ratio is presently 16.13%.

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.