Bank of Nova Scotia Invests $265,000 in Alamos Gold Inc. (NYSE:AGI)

Bank of Nova Scotia purchased a new position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 14,354 shares of the basic materials company’s stock, valued at approximately $265,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its stake 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 purchasing an additional 1,157 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in Alamos Gold by 51.8% during 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 acquiring an additional 856 shares in the last quarter. R Squared Ltd acquired a new stake in Alamos Gold in the fourth quarter valued at approximately $61,000. Daiwa Securities Group Inc. purchased a new stake in shares of Alamos Gold during the fourth quarter valued at approximately $136,000. Finally, XTX Topco Ltd acquired a new position in shares of Alamos Gold during the third quarter worth $207,000. 64.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Bank of America dropped their price target 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. National Bank Financial raised Alamos Gold to a “strong-buy” rating in a report on Friday, March 21st. Royal Bank of Canada lifted their price objective on Alamos Gold from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, April 4th. Scotiabank reiterated an “outperform” rating on shares of Alamos Gold in a research note on Monday. Finally, StockNews.com raised shares of Alamos Gold from a “hold” rating to a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $30.38.

Alamos Gold Stock Performance

Alamos Gold stock opened at $29.68 on Wednesday. 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 Inc. has a 12 month low of $14.31 and a 12 month high of $30.01. The company has a fifty day moving average price of $24.80 and a two-hundred day moving average price of $21.35. The company has a market cap of $12.48 billion, a PE ratio of 43.02, a P/E/G ratio of 0.40 and a beta of 1.02.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.25 earnings per share for the quarter, topping 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 business had revenue of $375.80 million for the quarter, compared to analysts’ expectations of $388.06 million. Research analysts expect that Alamos Gold Inc. will post 1.29 earnings per share for the current year.

Alamos Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $0.025 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.10 annualized dividend and a yield of 0.34%. Alamos Gold’s dividend payout ratio is presently 14.49%.

Alamos Gold Company 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.