Jennison Associates LLC Sells 408,009 Shares of Alamos Gold Inc. $AGI

Jennison Associates LLC lessened its stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 59.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 274,738 shares of the basic materials company’s stock after selling 408,009 shares during the quarter. Jennison Associates LLC’s holdings in Alamos Gold were worth $12,207,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in AGI. Vanguard Group Inc. lifted its position in Alamos Gold by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 17,565,941 shares of the basic materials company’s stock valued at $678,291,000 after purchasing an additional 332,335 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Alamos Gold by 11.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 9,095,054 shares of the basic materials company’s stock worth $351,072,000 after purchasing an additional 964,317 shares during the last quarter. CIBC Asset Management Inc grew its position in Alamos Gold by 6.3% in the 4th quarter. CIBC Asset Management Inc now owns 8,716,153 shares of the basic materials company’s stock worth $338,372,000 after purchasing an additional 514,819 shares during the period. Norges Bank bought a new stake in Alamos Gold in the 4th quarter worth approximately $219,475,000. Finally, Geode Capital Management LLC raised its stake in Alamos Gold by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 4,219,852 shares of the basic materials company’s stock valued at $168,031,000 after buying an additional 242,415 shares during the last quarter. 64.33% of the stock is currently owned by institutional investors.

Alamos Gold Stock Up 4.8%

AGI opened at $29.51 on Wednesday. The company has a current ratio of 2.01, a quick ratio of 1.61 and a debt-to-equity ratio of 0.05. Alamos Gold Inc. has a 1-year low of $23.92 and a 1-year high of $55.41. The company has a market capitalization of $12.35 billion, a PE ratio of 11.76, a PEG ratio of 0.36 and a beta of 0.55. The firm’s 50 day simple moving average is $34.66 and its two-hundred day simple moving average is $40.91.

Alamos Gold (NYSE:AGI) (TSE:AGI) last issued its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. Alamos Gold had a net margin of 51.24% and a return on equity of 18.03%. The business had revenue of $596.70 million for the quarter, compared to analysts’ expectations of $612.35 million. During the same quarter last year, the company posted $0.14 EPS. The company’s revenue was up 79.2% compared to the same quarter last year. As a group, equities analysts forecast that Alamos Gold Inc. will post 2.19 EPS for the current year.

Alamos Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were given a dividend of $0.04 per share. The ex-dividend date was Thursday, June 11th. This represents a $0.16 annualized dividend and a yield of 0.5%. Alamos Gold’s payout ratio is 6.37%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AGI shares. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alamos Gold in a report on Saturday, June 20th. Royal Bank Of Canada cut their price objective on Alamos Gold from $52.00 to $42.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Scotiabank reiterated an “outperform” rating on shares of Alamos Gold in a research report on Tuesday, July 14th. Wall Street Zen downgraded Alamos Gold from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Finally, Bank of America dropped their target price on Alamos Gold from $50.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Alamos Gold currently has a consensus rating of “Moderate Buy” and an average target price of $47.50.

About Alamos Gold

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.