Scotia Capital Inc. Decreases Holdings in Alamos Gold Inc. (NYSE:AGI)

Scotia Capital Inc. lowered its holdings in Alamos Gold Inc. (NYSE:AGI – Get Rating) (TSE:AGI) by 87.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 17,665 shares of the basic materials company’s stock after selling 126,468 shares during the quarter. Scotia Capital Inc.’s holdings in Alamos Gold were worth $178,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AGI. Advisor Group Holdings Inc. boosted its holdings in Alamos Gold by 5.1% in the first quarter. Advisor Group Holdings Inc. now owns 29,621 shares of the basic materials company’s stock valued at $239,000 after purchasing an additional 1,432 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Alamos Gold by 56.4% in the 1st quarter. JPMorgan Chase & Co. now owns 535,028 shares of the basic materials company’s stock valued at $4,505,000 after buying an additional 192,939 shares during the last quarter. Raymond James & Associates raised its stake in Alamos Gold by 24.1% during the 1st quarter. Raymond James & Associates now owns 300,000 shares of the basic materials company’s stock worth $2,526,000 after acquiring an additional 58,298 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in Alamos Gold during the 1st quarter worth $101,000. Finally, Cambridge Investment Research Advisors Inc. lifted its position in Alamos Gold by 9.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 61,429 shares of the basic materials company’s stock valued at $517,000 after acquiring an additional 5,434 shares during the last quarter. Institutional investors and hedge funds own 50.22% of the company’s stock.

Wall Street Analyst Weigh In

AGI has been the subject of a number of research analyst reports. TD Securities cut Alamos Gold from a “buy” rating to a “hold” rating in a research report on Wednesday, April 19th. Scotiabank started coverage on shares of Alamos Gold in a research report on Monday, April 24th. They set an “outperform” rating and a $14.50 target price on the stock. CIBC lifted their target price on shares of Alamos Gold from C$17.50 to C$18.50 in a report on Tuesday, February 7th. StockNews.com initiated coverage on shares of Alamos Gold in a research report on Thursday. They set a “buy” rating on the stock. Finally, National Bank Financial upped their target price on shares of Alamos Gold from C$17.50 to C$18.00 in a report on Tuesday, February 14th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $16.08.

Alamos Gold Price Performance

NYSE:AGI opened at $12.71 on Monday. The firm has a market cap of $5.02 billion, a price-to-earnings ratio of 52.96, a price-to-earnings-growth ratio of 1.86 and a beta of 1.09. Alamos Gold Inc. has a 1-year low of $6.35 and a 1-year high of $14.12. The firm’s fifty day moving average price is $12.64 and its 200 day moving average price is $10.97.

Alamos Gold (NYSE:AGI – Get Rating) (TSE:AGI) last announced its quarterly earnings data on Thursday, April 27th. The basic materials company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. The firm had revenue of $251.50 million during the quarter, compared to the consensus estimate of $231.55 million. Alamos Gold had a net margin of 10.58% and a return on equity of 4.98%. The firm’s revenue was up 36.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.05 earnings per share. As a group, analysts expect that Alamos Gold Inc. will post 0.46 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 30th. Shareholders of record on Thursday, March 16th were given a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Wednesday, March 15th. Alamos Gold’s payout ratio is 41.67%.

About Alamos Gold

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Alamos Gold, Inc engages in the exploration, development, mining and extraction of precious metals. It operates through the following segments: Young-Davidson, Mulatos, Island Gold, Elchanate, Kirazli and Corporate and Other. The company was founded on February 21, 2003 and is headquartered in Toronto, Canada.