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

Raymond James Financial Inc. acquired a new stake in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,569,974 shares of the basic materials company's stock, valued at approximately $28,950,000. Raymond James Financial Inc. owned 0.37% of Alamos Gold at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of AGI. Blue Trust Inc. boosted its holdings in Alamos Gold by 155.7% in the 4th quarter. Blue Trust Inc. now owns 1,900 shares of the basic materials company's stock valued at $38,000 after purchasing an additional 1,157 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Alamos Gold by 51.8% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,510 shares of the basic materials company's stock valued at $46,000 after buying an additional 856 shares during the period. R Squared Ltd acquired a new stake in Alamos Gold during the fourth quarter worth about $61,000. Daiwa Securities Group Inc. bought a new position in Alamos Gold during the fourth quarter valued at about $136,000. Finally, XTX Topco Ltd bought a new position in Alamos Gold during the third quarter valued at about $207,000. Institutional investors and hedge funds own 64.33% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. StockNews.com raised Alamos Gold from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. National Bank Financial upgraded shares of Alamos Gold to a "strong-buy" rating in a research note on Friday, March 21st. Royal Bank of Canada lifted their target price on shares of Alamos Gold from $27.00 to $30.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. Bank of America cut their price target on shares of Alamos Gold from $31.00 to $30.50 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Finally, Scotiabank reiterated an "outperform" rating on shares of Alamos Gold in a research note on Monday, April 14th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Alamos Gold currently has a consensus rating of "Buy" and a consensus price target of $30.38.

Alamos Gold Price Performance

Shares of NYSE AGI traded up $0.18 during mid-day trading on Monday, hitting $29.76. 3,913,426 shares of the stock were exchanged, compared to its average volume of 2,536,037. The company has a market cap of $12.51 billion, a P/E ratio of 43.13, a PEG ratio of 0.40 and a beta of 1.02. Alamos Gold Inc. has a twelve month low of $14.31 and a twelve month high of $32.06. The stock's fifty day simple moving average is $25.24 and its two-hundred day simple moving average is $21.57. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.51.

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 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.01. The company had revenue of $375.80 million during the quarter, compared to analyst estimates of $388.06 million. Alamos Gold had a return on equity of 10.05% and a net margin of 21.11%. As a group, analysts forecast that Alamos Gold Inc. will post 1.29 EPS for the current fiscal year.

Alamos Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.34%. The ex-dividend date was Thursday, March 13th. Alamos Gold's dividend payout ratio (DPR) 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.