Raymond James Financial Inc. Invests $28.95 Million in Alamos Gold Inc. (NYSE:AGI)

Raymond James Financial Inc. bought a new stake in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 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 filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of AGI. Old West Investment Management LLC grew 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 valued at $9,689,000 after buying an additional 48,128 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Alamos Gold in the third quarter valued at about $258,000. Plato Investment Management Ltd purchased a new position in Alamos Gold in the third quarter valued at about $147,000. CIBC Asset Management Inc boosted its holdings in Alamos Gold by 79.3% in the third quarter. CIBC Asset Management Inc now owns 4,859,699 shares of the basic materials company's stock valued at $97,336,000 after purchasing an additional 2,149,915 shares during the last quarter. Finally, Natixis Advisors LLC boosted its holdings in Alamos Gold by 2.0% in the third quarter. Natixis Advisors LLC now owns 27,681 shares of the basic materials company's stock valued at $552,000 after purchasing an additional 531 shares during the last quarter. Institutional investors and hedge funds own 64.33% of the company's stock.

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Alamos Gold Stock Performance

NYSE:AGI traded down $0.00 during trading hours on Tuesday, reaching $25.83. 4,426,350 shares of the stock were exchanged, compared to its average volume of 2,302,507. 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 firm has a 50 day simple moving average of $21.91 and a 200-day simple moving average of $20.27. Alamos Gold Inc. has a 52 week low of $13.06 and a 52 week high of $26.42. The stock has a market capitalization of $10.86 billion, a P/E ratio of 37.43, a P/E/G ratio of 0.40 and a beta of 1.15.

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

Alamos Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Thursday, March 13th. Alamos Gold's dividend payout ratio is presently 14.49%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AGI. National Bank Financial raised Alamos Gold from a "sector perform" rating to an "outperform" rating in a report on Tuesday, December 3rd. Royal Bank of Canada increased their price target on Alamos Gold from $25.00 to $27.00 and gave the company an "outperform" rating in a report on Tuesday, February 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $26.06.

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.