Jefferies Financial Group Inc. Takes Position in Alamos Gold Inc. (NYSE:AGI)

Key Points

• Jefferies Financial Group Inc. acquired 300,000 shares of Alamos Gold Inc., representing a stake valued at approximately $8 million, indicating growing institutional interest in the company.
• Alamos Gold's stock has seen analysts upgrade its rating, with consensus ratings now reflecting a "Buy" designation and an average price target of $30.38.
• The company reported record earnings of $0.34 per share for the last quarter, exceeding expectations, and showed a significant 31.7% year-over-year revenue growth to $438.20 million.

Jefferies Financial Group Inc. purchased a new stake in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 300,000 shares of the basic materials company's stock, valued at approximately $8,022,000. Jefferies Financial Group Inc. owned 0.07% of Alamos Gold as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Alamos Gold by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 15,995,738 shares of the basic materials company's stock worth $295,105,000 after purchasing an additional 279,280 shares during the period. Renaissance Technologies LLC grew its stake in shares of Alamos Gold by 4.4% in the 4th quarter. Renaissance Technologies LLC now owns 7,534,253 shares of the basic materials company's stock worth $138,932,000 after purchasing an additional 318,360 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Alamos Gold by 296.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,375,892 shares of the basic materials company's stock worth $136,011,000 after purchasing an additional 5,516,186 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Alamos Gold by 2.0% in the 4th quarter. Mackenzie Financial Corp now owns 7,371,629 shares of the basic materials company's stock worth $135,855,000 after purchasing an additional 145,726 shares during the last quarter. Finally, FMR LLC grew its stake in shares of Alamos Gold by 1.9% in the 4th quarter. FMR LLC now owns 6,497,058 shares of the basic materials company's stock worth $119,864,000 after purchasing an additional 122,515 shares during the last quarter. Institutional investors and hedge funds own 64.33% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Alamos Gold in a research note on Wednesday, July 9th. They issued a "buy" rating on the stock. National Bankshares reaffirmed an "outperform" rating on shares of Alamos Gold in a research note on Tuesday. Stifel Canada upgraded Alamos Gold to a "strong-buy" rating in a report on Tuesday, July 8th. Scotiabank restated an "outperform" rating on shares of Alamos Gold in a report on Monday, April 14th. Finally, Bank of America cut their price objective on Alamos Gold from $31.00 to $30.50 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $30.38.

Alamos Gold Stock Up 0.4%

Shares of AGI traded up $0.12 during trading hours on Wednesday, reaching $26.35. The company's stock had a trading volume of 2,554,489 shares, compared to its average volume of 3,486,395. The firm has a market cap of $11.08 billion, a price-to-earnings ratio of 31.75, a P/E/G ratio of 0.56 and a beta of 0.51. The company has a 50 day moving average of $26.32 and a two-hundred day moving average of $25.35. Alamos Gold Inc. has a 1-year low of $16.63 and a 1-year high of $31.00. The company has a quick ratio of 1.00, a current ratio of 1.49 and a debt-to-equity ratio of 0.07.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last announced its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. The business had revenue of $438.20 million during the quarter, compared to analysts' expectations of $400.61 million. Alamos Gold had a return on equity of 10.67% and a net margin of 22.99%. The firm's quarterly revenue was up 31.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 EPS. As a group, research analysts predict that Alamos Gold Inc. will post 1.29 EPS for the current fiscal year.

Alamos Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $0.10 dividend on an annualized basis and a yield of 0.4%. Alamos Gold's dividend payout ratio is presently 12.05%.

Alamos Gold Company Profile

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.