Alamos Gold Inc. (NYSE:AGI) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 47.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,063,464 shares of the basic materials company's stock after selling 960,169 shares during the quarter. Bank of New York Mellon Corp owned 0.25% of Alamos Gold worth $28,437,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Alamos Gold by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 15,995,738 shares of the basic materials company's stock worth $295,105,000 after purchasing an additional 279,280 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Alamos Gold in the first quarter worth approximately $320,000. Goehring & Rozencwajg Associates LLC grew its stake in Alamos Gold by 2.3% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 1,223,257 shares of the basic materials company's stock worth $31,915,000 after purchasing an additional 27,032 shares in the last quarter. Deutsche Bank AG grew its stake in Alamos Gold by 5.3% in the fourth quarter. Deutsche Bank AG now owns 171,943 shares of the basic materials company's stock worth $3,171,000 after purchasing an additional 8,681 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new position in Alamos Gold in the first quarter worth approximately $222,000. Institutional investors own 64.33% of the company's stock.

Alamos Gold Stock Down 2.0%

NYSE:AGI traded down $0.52 during mid-day trading on Friday, hitting $24.86. 3,946,953 shares of the company's stock traded hands, compared to its average volume of 2,959,101. The company has a fifty day moving average of $26.29 and a 200 day moving average of $24.74. Alamos Gold Inc. has a twelve month low of $15.74 and a twelve month high of $31.00. The company has a market capitalization of $10.45 billion, a P/E ratio of 40.10, a P/E/G ratio of 0.54 and a beta of 0.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.94 and a current ratio of 1.49.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last announced its earnings results on Wednesday, April 30th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.05). Alamos Gold had a net margin of 18.36% and a return on equity of 9.83%. The business had revenue of $333.00 million for the quarter, compared to analyst estimates of $324.98 million. During the same period in the prior year, the company earned $0.13 earnings per share. The company's quarterly revenue was up 20.0% on a year-over-year basis. On average, analysts forecast that Alamos Gold Inc. will post 1.29 EPS for the current year.

Alamos Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were given a dividend of $0.025 per share. The ex-dividend date was Thursday, June 12th. This represents a $0.10 dividend on an annualized basis and a yield of 0.40%. Alamos Gold's dividend payout ratio is currently 16.13%.

Wall Street Analyst Weigh In

Several analysts have issued reports on AGI shares. National Bank Financial raised Alamos Gold to a "strong-buy" rating in a research report on Friday, March 21st. Scotiabank reiterated an "outperform" rating on shares of Alamos Gold in a research note on Monday, April 14th. Bank of America decreased their price target on shares of Alamos Gold from $31.00 to $30.50 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Wall Street Zen downgraded shares of Alamos Gold from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Finally, Stifel Nicolaus began coverage on shares of Alamos Gold in a research report on Wednesday, July 9th. They set a "buy" rating for the company. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $30.38.

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.