Bank of Nova Scotia Buys Shares of 14,354 Alamos Gold Inc. (NYSE:AGI)

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

Other hedge funds have also modified their holdings of the company. Renaissance Technologies LLC lifted its holdings in Alamos Gold by 4.4% during the 4th quarter. Renaissance Technologies LLC now owns 7,534,253 shares of the basic materials company's stock worth $138,932,000 after buying an additional 318,360 shares in the last quarter. FIL Ltd raised its position in shares of Alamos Gold by 4.7% during the fourth quarter. FIL Ltd now owns 685,251 shares of the basic materials company's stock worth $12,642,000 after acquiring an additional 30,669 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of Alamos Gold by 9.7% during the fourth quarter. Cerity Partners LLC now owns 25,429 shares of the basic materials company's stock valued at $487,000 after acquiring an additional 2,256 shares during the period. FMR LLC increased its position in Alamos Gold by 1.9% in the fourth quarter. FMR LLC now owns 6,497,058 shares of the basic materials company's stock worth $119,864,000 after purchasing an additional 122,515 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in Alamos Gold by 94.4% during the 4th quarter. Russell Investments Group Ltd. now owns 141,090 shares of the basic materials company's stock worth $2,602,000 after purchasing an additional 68,519 shares during the last quarter. 64.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Scotiabank reiterated an "outperform" rating on shares of Alamos Gold in a research report on Monday, April 14th. Bank of America cut their price target on Alamos Gold from $31.00 to $30.50 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. StockNews.com upgraded Alamos Gold from a "hold" rating to a "buy" rating in a report on Tuesday. Royal Bank of Canada raised their target price on Alamos Gold from $27.00 to $30.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. Finally, National Bank Financial upgraded shares of Alamos Gold to a "strong-buy" rating in a research report on Friday, March 21st. One 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 company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $30.38.

Alamos Gold Trading Down 2.5 %

AGI stock traded down $0.75 during midday trading on Friday, hitting $29.58. 3,122,005 shares of the company's stock were exchanged, compared to its average volume of 2,533,059. Alamos Gold Inc. has a one year low of $14.31 and a one year high of $31.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.51. The company has a market cap of $12.44 billion, a PE ratio of 42.87, a price-to-earnings-growth ratio of 0.40 and a beta of 1.02. The stock's fifty day moving average price is $25.24 and its 200-day moving average price is $21.55.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last released its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. The business had revenue of $375.80 million for the quarter, compared to analysts' expectations of $388.06 million. Alamos Gold had a return on equity of 10.05% and a net margin of 21.11%. Research analysts predict 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 given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Thursday, March 13th. Alamos Gold's dividend payout ratio is 14.49%.

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.