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

Bank of Nova Scotia acquired a new stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,354 shares of the basic materials company’s stock, valued at approximately $265,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Blue Trust Inc. grew its position in shares of Alamos Gold by 155.7% in the fourth quarter. Blue Trust Inc. now owns 1,900 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 1,157 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Alamos Gold by 51.8% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,510 shares of the basic materials company’s stock valued at $46,000 after buying an additional 856 shares in the last quarter. R Squared Ltd acquired a new stake in Alamos Gold during the 4th quarter valued at $61,000. Daiwa Securities Group Inc. acquired a new stake in Alamos Gold during the 4th quarter valued at $136,000. Finally, XTX Topco Ltd purchased a new position in Alamos Gold during the third quarter worth $207,000. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

Alamos Gold Price Performance

AGI opened at $29.68 on Wednesday. Alamos Gold Inc. has a 1 year low of $14.31 and a 1 year high of $30.01. The company’s 50 day simple moving average is $24.80 and its 200 day simple moving average is $21.35. The stock has a market capitalization of $12.48 billion, a PE ratio of 43.02, a P/E/G ratio of 0.40 and a beta of 1.02. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.51.

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, beating analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $375.80 million for the quarter, compared to analyst estimates of $388.06 million. Alamos Gold had a net margin of 21.11% and a return on equity of 10.05%. As a group, sell-side analysts expect that Alamos Gold Inc. will post 1.29 EPS for the current year.

Alamos Gold Announces Dividend

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

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Royal Bank of Canada upped their price objective on Alamos Gold from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday, April 4th. StockNews.com raised shares of Alamos Gold from a “hold” rating to a “buy” rating in a research note on Tuesday. Scotiabank reissued an “outperform” rating on shares of Alamos Gold in a research report on Monday. Bank of America decreased their target price on shares of Alamos Gold from $31.00 to $30.50 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Finally, National Bank Financial upgraded Alamos Gold to a “strong-buy” rating in a report on Friday, March 21st. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Alamos Gold currently has a consensus rating of “Buy” and a consensus price target of $30.38.

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.