Toronto Dominion Bank Increases Position in Alamos Gold Inc. (NYSE:AGI)

Toronto Dominion Bank raised its position in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 181.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 427,263 shares of the basic materials company’s stock after buying an additional 275,701 shares during the period. Toronto Dominion Bank’s holdings in Alamos Gold were worth $3,264,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its holdings in shares of Alamos Gold by 12.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 10,086,242 shares of the basic materials company’s stock worth $77,160,000 after purchasing an additional 1,089,928 shares during the last quarter. First Eagle Investment Management LLC raised its position in Alamos Gold by 1.8% in the first quarter. First Eagle Investment Management LLC now owns 9,277,333 shares of the basic materials company’s stock valued at $72,494,000 after purchasing an additional 166,337 shares during the period. Geode Capital Management LLC increased its position in shares of Alamos Gold by 19.6% during the first quarter. Geode Capital Management LLC now owns 126,472 shares of the basic materials company’s stock worth $988,000 after acquiring an additional 20,724 shares during the period. Citigroup Inc. increased its position in shares of Alamos Gold by 733.9% during the first quarter. Citigroup Inc. now owns 208,667 shares of the basic materials company’s stock worth $1,630,000 after acquiring an additional 183,643 shares during the period. Finally, Trexquant Investment LP purchased a new stake in shares of Alamos Gold during the second quarter worth $272,000. Institutional investors own 53.77% of the company’s stock.

Several equities research analysts have recently weighed in on the stock. TheStreet downgraded shares of Alamos Gold from a “b” rating to a “c-” rating in a research note on Friday, July 30th. CIBC dropped their target price on shares of Alamos Gold from C$16.00 to C$15.50 in a report on Wednesday, June 23rd. National Bank Financial dropped their target price on shares of Alamos Gold from C$14.25 to C$13.50 and set an “outperform” rating for the company in a report on Friday, July 16th. Finally, TD Securities dropped their price objective on shares of Alamos Gold from C$16.00 to C$15.50 and set a “buy” rating for the company in a research note on Friday, July 30th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $14.25.

NYSE AGI opened at $7.93 on Thursday. The company has a 50-day simple moving average of $7.55 and a 200-day simple moving average of $8.07. The firm has a market capitalization of $3.11 billion, a PE ratio of 158.63, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. Alamos Gold Inc. has a one year low of $6.94 and a one year high of $10.21.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings results on Wednesday, July 28th. The basic materials company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The company had revenue of $195.10 million during the quarter, compared to analyst estimates of $216.17 million. Alamos Gold had a return on equity of 7.23% and a net margin of 2.71%. Equities research analysts expect that Alamos Gold Inc. will post 0.47 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 30th. Stockholders of record on Thursday, September 16th were issued a dividend of $0.025 per share. The ex-dividend date was Wednesday, September 15th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.26%. This is a positive change from Alamos Gold’s previous quarterly dividend of $0.02. Alamos Gold’s payout ratio is currently 25.00%.

About Alamos Gold

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.

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Institutional Ownership by Quarter for Alamos Gold (NYSE:AGI)

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