Bank of New York Mellon Corp Takes Position in Alamos Gold Inc. $AGI

Bank of New York Mellon Corp purchased a new stake in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 693,588 shares of the basic materials company's stock, valued at approximately $21,043,000. Bank of New York Mellon Corp owned approximately 0.17% of Alamos Gold at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Swiss National Bank grew its holdings in shares of Alamos Gold by 26.8% during the first quarter. Swiss National Bank now owns 1,413,236 shares of the basic materials company's stock valued at $62,782,000 after purchasing an additional 298,900 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Alamos Gold by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 17,565,941 shares of the basic materials company's stock worth $678,291,000 after purchasing an additional 332,335 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Alamos Gold by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,679,980 shares of the basic materials company's stock worth $74,757,000 after purchasing an additional 141,000 shares during the last quarter. DJE Kapital AG lifted its holdings in shares of Alamos Gold by 66.2% in the 1st quarter. DJE Kapital AG now owns 296,236 shares of the basic materials company's stock worth $12,665,000 after purchasing an additional 118,006 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Alamos Gold by 41.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 4,139,080 shares of the basic materials company's stock valued at $183,963,000 after purchasing an additional 1,216,977 shares during the period. 64.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AGI. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Alamos Gold in a research note on Saturday, June 20th. Royal Bank Of Canada cut their target price on Alamos Gold from $52.00 to $42.00 and set an "outperform" rating on the stock in a research note on Thursday, July 9th. Weiss Ratings lowered shares of Alamos Gold from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, July 23rd. Bank of America dropped their price objective 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. Finally, Scotiabank reiterated an "outperform" rating on shares of Alamos Gold in a research report on Tuesday, July 14th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Alamos Gold currently has an average rating of "Moderate Buy" and an average target price of $47.50.

Alamos Gold Trading Up 0.1%

Shares of AGI stock opened at $36.78 on Monday. The stock has a 50-day simple moving average of $31.62 and a 200 day simple moving average of $39.35. The stock has a market capitalization of $15.40 billion, a P/E ratio of 13.28, a P/E/G ratio of 0.49 and a beta of 0.56. Alamos Gold Inc. has a fifty-two week low of $27.05 and a fifty-two week high of $55.41. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.04.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last issued its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.52 by $0.07. Alamos Gold had a net margin of 52.64% and a return on equity of 19.28%. The firm had revenue of $594.10 million for the quarter, compared to analysts' expectations of $593.58 million. During the same period in the previous year, the business earned $0.34 earnings per share. Alamos Gold's revenue for the quarter was up 35.6% compared to the same quarter last year. On average, sell-side analysts expect that Alamos Gold Inc. will post 2.12 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, September 24th. Stockholders of record on Thursday, September 10th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.16 annualized dividend and a dividend yield of 0.4%. Alamos Gold's payout ratio is currently 5.78%.

Alamos Gold Company Profile

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.

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