Raymond James Financial Inc. Purchases Shares of 1,569,974 Alamos Gold Inc. (NYSE:AGI)

Raymond James Financial Inc. purchased a new stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,569,974 shares of the basic materials company’s stock, valued at approximately $28,950,000. Raymond James Financial Inc. owned approximately 0.37% of Alamos Gold as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Old West Investment Management LLC raised its stake in shares of Alamos Gold by 11.0% in the third quarter. Old West Investment Management LLC now owns 485,892 shares of the basic materials company’s stock worth $9,689,000 after acquiring an additional 48,128 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Alamos Gold by 59.0% in the fourth quarter. CIBC Asset Management Inc now owns 7,726,726 shares of the basic materials company’s stock worth $142,936,000 after acquiring an additional 2,867,027 shares during the last quarter. Canoe Financial LP bought a new position in shares of Alamos Gold in the fourth quarter worth about $4,066,000. National Bank of Canada FI raised its stake in shares of Alamos Gold by 18.4% in the third quarter. National Bank of Canada FI now owns 1,529,315 shares of the basic materials company’s stock worth $30,492,000 after acquiring an additional 237,278 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Alamos Gold by 11.1% in the third quarter. Geode Capital Management LLC now owns 299,612 shares of the basic materials company’s stock worth $6,224,000 after acquiring an additional 29,933 shares during the last quarter. 64.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AGI has been the subject of a number of recent research reports. National Bank Financial raised 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 upped their target price on shares of Alamos Gold from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $26.06.

Alamos Gold Stock Up 1.0 %

Shares of NYSE:AGI opened at $25.13 on Friday. Alamos Gold Inc. has a 52 week low of $13.06 and a 52 week high of $25.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.51. The company has a market capitalization of $10.56 billion, a PE ratio of 36.41, a PEG ratio of 0.40 and a beta of 1.15. The company has a 50 day moving average price of $21.77 and a two-hundred day moving average price of $20.21.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. The company 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 earnings per share for the current year.

Alamos Gold Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Thursday, March 13th. Alamos Gold’s dividend payout ratio (DPR) is presently 14.49%.

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.