Franklin Resources Inc. Reduces Position in Alamos Gold Inc. (NYSE:AGI)

Franklin Resources Inc. lowered its position in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 5.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 4,355,335 shares of the basic materials company’s stock after selling 255,064 shares during the period. Franklin Resources Inc.’s holdings in Alamos Gold were worth $86,106,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of AGI. Raymond James & Associates boosted its stake in Alamos Gold by 1.6% during the 2nd quarter. Raymond James & Associates now owns 317,959 shares of the basic materials company’s stock worth $4,986,000 after purchasing an additional 5,075 shares during the period. U S Global Investors Inc. raised its holdings in shares of Alamos Gold by 25.0% in the second quarter. U S Global Investors Inc. now owns 250,000 shares of the basic materials company’s stock valued at $3,920,000 after buying an additional 50,000 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in shares of Alamos Gold by 3.4% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 38,816 shares of the basic materials company’s stock worth $609,000 after buying an additional 1,282 shares during the period. Mcrae Capital Management Inc. grew its holdings in shares of Alamos Gold by 77.5% during the second quarter. Mcrae Capital Management Inc. now owns 22,900 shares of the basic materials company’s stock worth $359,000 after buying an additional 10,000 shares during the last quarter. Finally, HMS Capital Management LLC acquired a new position in Alamos Gold in the 2nd quarter valued at about $405,000. 64.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AGI. National Bank Financial raised Alamos Gold from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, December 3rd. StockNews.com lowered shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group raised their target price on shares of Alamos Gold from $23.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Scotiabank boosted their price target on shares of Alamos Gold from $20.00 to $22.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Finally, Royal Bank of Canada raised their price objective on shares of Alamos Gold from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $25.06.

Alamos Gold Price Performance

Alamos Gold stock opened at $19.11 on Monday. The company has a market cap of $8.03 billion, a P/E ratio of 31.85, a price-to-earnings-growth ratio of 0.93 and a beta of 1.15. Alamos Gold Inc. has a one year low of $11.24 and a one year high of $21.45. The business has a fifty day moving average of $19.47 and a two-hundred day moving average of $18.40. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.97 and a current ratio of 1.62.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.03). The company had revenue of $360.90 million during the quarter. Alamos Gold had a net margin of 19.89% and a return on equity of 8.85%. As a group, analysts predict that Alamos Gold Inc. will post 0.77 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.52%. Alamos Gold’s payout ratio is 16.67%.

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.