Raymond James Financial Inc. Makes New Investment in Alamos Gold Inc. (NYSE:AGI)

Raymond James Financial Inc. purchased a new stake in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,569,974 shares of the basic materials company’s stock, valued at approximately $28,950,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AGI. XTX Topco Ltd bought a new stake in Alamos Gold in the 3rd quarter valued at about $207,000. Barclays PLC raised its position in shares of Alamos Gold by 46.6% in the third quarter. Barclays PLC now owns 322,402 shares of the basic materials company’s stock valued at $6,428,000 after purchasing an additional 102,525 shares during the period. Geode Capital Management LLC raised its position 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 valued at $6,224,000 after purchasing an additional 29,933 shares during the period. Virtu Financial LLC purchased a new stake in shares of Alamos Gold during the 3rd quarter valued at approximately $724,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Alamos Gold in the 3rd quarter worth approximately $413,000. Institutional investors own 64.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Royal Bank of Canada increased their target price on Alamos Gold from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, April 4th. StockNews.com raised Alamos Gold from a “hold” rating to a “buy” rating in a report on Tuesday. Bank of America reduced their target price on Alamos Gold from $31.00 to $30.50 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Scotiabank restated an “outperform” rating on shares of Alamos Gold in a research report on Monday. Finally, National Bank Financial raised shares of Alamos Gold to a “strong-buy” rating in a research note on Friday, March 21st. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued 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 $30.38.

Alamos Gold Price Performance

Shares of NYSE AGI opened at $29.58 on Friday. The firm has a market capitalization of $12.44 billion, a P/E ratio of 42.87, a P/E/G ratio of 0.40 and a beta of 1.02. 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 stock’s 50-day simple moving average is $25.10 and its two-hundred day simple moving average is $21.48. Alamos Gold Inc. has a twelve month low of $14.31 and a twelve month high of $31.00.

Alamos Gold (NYSE:AGI) (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. 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 the consensus estimate of $388.06 million. As a group, equities analysts anticipate 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. Stockholders 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 0.34%. The ex-dividend date of this dividend was Thursday, March 13th. Alamos Gold’s dividend payout ratio is currently 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.