Raymond James Financial Inc. Takes Position in Alamos Gold Inc. (NYSE:AGI)

Raymond James Financial Inc. bought a new position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,569,974 shares of the basic materials company’s stock, valued at approximately $28,950,000.

Other hedge funds also recently modified their holdings of the company. Blue Trust Inc. lifted its stake in shares of Alamos Gold by 155.7% during the 4th quarter. Blue Trust Inc. now owns 1,900 shares of the basic materials company’s stock worth $38,000 after buying an additional 1,157 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of 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 buying an additional 856 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Alamos Gold during the 4th quarter worth about $61,000. Plato Investment Management Ltd acquired a new stake in shares of Alamos Gold during the 3rd quarter worth about $147,000. Finally, XTX Topco Ltd acquired a new stake in shares of Alamos Gold during the 3rd quarter worth about $207,000. Institutional investors and hedge funds own 64.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AGI. National Bank Financial upgraded shares of Alamos Gold from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada lifted their price objective on shares of Alamos Gold from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $26.06.

Alamos Gold Price Performance

Shares of Alamos Gold stock opened at $25.13 on Friday. Alamos Gold Inc. has a twelve month low of $13.06 and a twelve month high of $25.36. The company has a quick ratio of 0.96, a current ratio of 1.51 and a debt-to-equity ratio of 0.08. The company has a 50-day simple moving average of $21.77 and a two-hundred day simple moving average of $20.21. The stock has a market capitalization of $10.56 billion, a price-to-earnings ratio of 36.41, a price-to-earnings-growth ratio of 0.40 and a beta of 1.15.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. The business had revenue of $375.80 million during the quarter, compared to analysts’ expectations of $388.06 million. Alamos Gold had a net margin of 21.11% and a return on equity of 10.05%. Analysts forecast that Alamos Gold Inc. will post 1.29 EPS for the current year.

Alamos Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.40%. The ex-dividend date is Thursday, March 13th. Alamos Gold’s payout ratio is presently 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.