Franklin Resources Inc. Cuts Stake in Alamos Gold Inc. (NYSE:AGI)

Franklin Resources Inc. reduced its stake in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 6.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,057,349 shares of the basic materials company's stock after selling 297,986 shares during the quarter. Franklin Resources Inc. owned 0.97% of Alamos Gold worth $74,791,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AGI. Old West Investment Management LLC grew its stake in Alamos Gold by 11.0% during the 3rd quarter. Old West Investment Management LLC now owns 485,892 shares of the basic materials company's stock worth $9,689,000 after purchasing an additional 48,128 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of Alamos Gold by 59.0% during 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 buying an additional 2,867,027 shares in the last quarter. Canoe Financial LP purchased a new stake in shares of Alamos Gold during the fourth quarter worth approximately $4,066,000. National Bank of Canada FI increased its stake in shares of Alamos Gold by 18.4% during 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 buying an additional 237,278 shares during the period. Finally, Geode Capital Management LLC raised its holdings in 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 valued at $6,224,000 after acquiring an additional 29,933 shares in the last quarter. Hedge funds and other institutional investors own 64.33% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of Alamos Gold from $27.00 to $30.00 and gave the stock an "outperform" rating in a research report on Friday. StockNews.com raised Alamos Gold from a "hold" rating to a "buy" rating in a research report on Sunday. Finally, National Bank Financial upgraded Alamos Gold to a "strong-buy" rating in a research note on Friday, March 21st. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $26.81.

Alamos Gold Stock Performance

NYSE:AGI traded up $1.04 during mid-day trading on Tuesday, reaching $25.57. 1,175,546 shares of the stock were exchanged, compared to its average volume of 3,001,875. The stock has a market capitalization of $10.75 billion, a P/E ratio of 37.05, a P/E/G ratio of 0.40 and a beta of 1.02. Alamos Gold Inc. has a 1 year low of $14.31 and a 1 year high of $27.32. The company has a 50 day simple moving average of $23.84 and a 200-day simple moving average of $20.99. The company has a quick ratio of 0.96, a current ratio of 1.51 and a debt-to-equity ratio of 0.08.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last announced its earnings results on Wednesday, February 19th. The basic materials company reported $0.25 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.01. Alamos Gold had a net margin of 21.11% and a return on equity of 10.05%. The business had revenue of $375.80 million for the quarter, compared to analysts' expectations of $388.06 million. Analysts anticipate that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date was Thursday, March 13th. Alamos Gold's dividend payout ratio is currently 14.49%.

Alamos Gold 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.