PNC Financial Services Group Inc. Sells 4,242 Shares of Alamos Gold Inc. (NYSE:AGI)

PNC Financial Services Group Inc. cut its stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 22.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,512 shares of the basic materials company’s stock after selling 4,242 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Alamos Gold were worth $195,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Alamos Gold in the fourth quarter valued at about $64,117,000. Ninety One UK Ltd grew its position in shares of Alamos Gold by 84.9% in the 4th quarter. Ninety One UK Ltd now owns 3,002,701 shares of the basic materials company’s stock worth $40,580,000 after buying an additional 1,378,456 shares during the last quarter. Fiera Capital Corp raised its stake in shares of Alamos Gold by 3,490.2% during the 4th quarter. Fiera Capital Corp now owns 1,213,495 shares of the basic materials company’s stock worth $16,373,000 after acquiring an additional 1,179,695 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Alamos Gold by 396.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,426,474 shares of the basic materials company’s stock valued at $19,215,000 after acquiring an additional 1,139,404 shares during the last quarter. Finally, Caldwell Investment Management Ltd. acquired a new stake in Alamos Gold in the fourth quarter valued at approximately $5,922,000. 64.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AGI shares. Royal Bank of Canada upped their price target on Alamos Gold from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 23rd. Jefferies Financial Group increased their price target on Alamos Gold from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Bank of America raised Alamos Gold from a “neutral” rating to a “buy” rating and raised their price target for the stock from $21.75 to $27.25 in a report on Tuesday, April 9th. National Bank Financial restated an “outperform overweight” rating on shares of Alamos Gold in a report on Monday, April 8th. Finally, StockNews.com upgraded shares of Alamos Gold from a “hold” rating to a “buy” rating in a research note on Thursday, May 16th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $18.15.

Alamos Gold Stock Performance

Shares of AGI stock opened at $15.59 on Wednesday. Alamos Gold Inc. has a fifty-two week low of $10.78 and a fifty-two week high of $17.29. The firm has a market capitalization of $6.22 billion, a PE ratio of 29.98, a P/E/G ratio of 0.71 and a beta of 1.16. The stock’s 50-day simple moving average is $15.91 and its 200-day simple moving average is $14.16.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.13. The company had revenue of $277.60 million during the quarter, compared to analyst estimates of $271.15 million. Alamos Gold had a net margin of 19.41% and a return on equity of 7.38%. Alamos Gold’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period last year, the firm posted $0.12 EPS. Sell-side analysts forecast that Alamos Gold Inc. will post 0.7 earnings per share for the current year.

Alamos Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.64%. The ex-dividend date was Thursday, June 13th. Alamos Gold’s payout ratio is 19.23%.

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.