Jennison Associates LLC Makes New Investment in Alamos Gold Inc. (NYSE:AGI)

Jennison Associates LLC bought a new position in Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 315,551 shares of the basic materials company's stock, valued at approximately $8,438,000. Jennison Associates LLC owned about 0.08% of Alamos Gold as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Murphy Pohlad Asset Management LLC lifted its holdings in Alamos Gold by 0.3% in the first quarter. Murphy Pohlad Asset Management LLC now owns 159,650 shares of the basic materials company's stock worth $4,269,000 after acquiring an additional 500 shares during the last quarter. Baird Financial Group Inc. increased its stake in shares of Alamos Gold by 0.3% during the fourth quarter. Baird Financial Group Inc. now owns 181,611 shares of the basic materials company's stock valued at $3,349,000 after acquiring an additional 614 shares during the period. SBI Securities Co. Ltd. increased its stake in shares of Alamos Gold by 67.0% during the first quarter. SBI Securities Co. Ltd. now owns 1,645 shares of the basic materials company's stock valued at $44,000 after acquiring an additional 660 shares during the period. NewEdge Advisors LLC increased its stake in shares of Alamos Gold by 1.2% during the fourth quarter. NewEdge Advisors LLC now owns 72,751 shares of the basic materials company's stock valued at $1,342,000 after acquiring an additional 854 shares during the period. Finally, Brown Advisory Inc. increased its stake in shares of Alamos Gold by 9.3% during the first quarter. Brown Advisory Inc. now owns 11,782 shares of the basic materials company's stock valued at $315,000 after acquiring an additional 1,000 shares during the period. Institutional investors own 64.33% of the company's stock.

Analysts Set New Price Targets

AGI has been the topic of a number of research analyst reports. Stifel Nicolaus initiated coverage on shares of Alamos Gold in a research note on Wednesday, July 9th. They set a "buy" rating on the stock. Royal Bank Of Canada raised their price objective on shares of Alamos Gold from $27.00 to $30.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. CIBC restated an "outperform" rating on shares of Alamos Gold in a research report on Tuesday, July 15th. Scotiabank restated an "outperform" rating on shares of Alamos Gold in a research report on Monday, April 14th. Finally, Stifel Canada upgraded shares of Alamos Gold to a "strong-buy" rating in a research report on Tuesday, July 8th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Alamos Gold currently has an average rating of "Buy" and an average price target of $30.38.

Alamos Gold Trading Down 2.0%

Alamos Gold stock opened at $24.86 on Monday. The company has a 50 day moving average price of $26.24 and a 200 day moving average price of $24.87. Alamos Gold Inc. has a 52 week low of $15.74 and a 52 week high of $31.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.94 and a current ratio of 1.49. The firm has a market capitalization of $10.45 billion, a price-to-earnings ratio of 40.10, a P/E/G ratio of 0.55 and a beta of 0.54.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last issued its earnings results on Wednesday, April 30th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.05). The company had revenue of $333.00 million for the quarter, compared to analyst estimates of $324.98 million. Alamos Gold had a net margin of 18.36% and a return on equity of 9.83%. The company's quarterly revenue was up 20.0% on a year-over-year basis. During the same period last year, the business earned $0.13 EPS. Research analysts forecast that Alamos Gold Inc. will post 1.29 EPS for the current year.

Alamos Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were issued a dividend of $0.025 per share. The ex-dividend date was Thursday, June 12th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.40%. Alamos Gold's dividend payout ratio is currently 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.

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