Envestnet Asset Management Inc. Grows Stock Holdings in Alamos Gold Inc. (NYSE:AGI)

Envestnet Asset Management Inc. raised its stake in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 36.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 86,836 shares of the basic materials company's stock after purchasing an additional 23,187 shares during the period. Envestnet Asset Management Inc.'s holdings in Alamos Gold were worth $1,601,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Alamos Gold during the fourth quarter worth approximately $100,694,000. CIBC Asset Management Inc raised its holdings in shares of Alamos Gold by 59.0% in the fourth quarter. CIBC Asset Management Inc now owns 7,726,726 shares of the basic materials company's stock valued at $142,936,000 after buying an additional 2,867,027 shares during the last quarter. Addenda Capital Inc. acquired a new stake in shares of Alamos Gold during the fourth quarter worth about $34,869,000. Raymond James Financial Inc. acquired a new position in Alamos Gold in the 4th quarter valued at about $28,950,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in Alamos Gold by 17.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 9,440,153 shares of the basic materials company's stock valued at $173,991,000 after acquiring an additional 1,424,550 shares during the last quarter. Institutional investors and hedge funds own 64.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AGI shares. Bank of America dropped their target price on Alamos Gold from $31.00 to $30.50 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada raised their target price on shares of Alamos Gold from $27.00 to $30.00 and gave the stock an "outperform" rating in a research note on Friday, April 4th. StockNews.com upgraded shares of Alamos Gold from a "hold" rating to a "buy" rating in a research note on Tuesday, April 15th. Scotiabank reaffirmed an "outperform" rating on shares of Alamos Gold in a report on Monday, April 14th. Finally, National Bank Financial upgraded Alamos Gold to a "strong-buy" rating in a research report on Friday, March 21st. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alamos Gold has an average rating of "Buy" and a consensus target price of $30.38.

Alamos Gold Price Performance

AGI stock traded down $0.98 during trading on Friday, reaching $24.76. 3,773,013 shares of the company were exchanged, compared to its average volume of 3,327,266. Alamos Gold Inc. has a 52-week low of $14.80 and a 52-week high of $31.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.51. The company has a market cap of $10.41 billion, a P/E ratio of 35.85, a PEG ratio of 0.40 and a beta of 1.02. The stock's 50 day moving average price is $26.21 and its 200 day moving average price is $22.08.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last issued its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.05). Alamos Gold had a return on equity of 10.05% and a net margin of 21.11%. The firm had revenue of $333.00 million for the quarter, compared to analyst estimates of $324.98 million. During the same period in the prior year, the firm posted $0.13 earnings per share. The business's revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, analysts predict that Alamos Gold Inc. will post 1.29 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $0.025 dividend. The ex-dividend date was Thursday, March 13th. This represents a $0.10 annualized dividend and a dividend yield of 0.40%. Alamos Gold's dividend payout ratio is presently 16.13%.

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.