Raymond James Financial Inc. Takes $28.95 Million Position in Alamos Gold Inc. (NYSE:AGI)

Raymond James Financial Inc. bought a new position in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,569,974 shares of the basic materials company's stock, valued at approximately $28,950,000. Raymond James Financial Inc. owned 0.37% of Alamos Gold at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Alamos Gold by 1.8% during the 4th 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. Arrowstreet Capital Limited Partnership increased its stake in Alamos Gold by 17.8% during the fourth 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 period. CIBC Asset Management Inc raised its holdings in Alamos Gold by 59.0% in the 4th quarter. CIBC Asset Management Inc now owns 7,726,726 shares of the basic materials company's stock valued at $142,936,000 after acquiring an additional 2,867,027 shares in the last quarter. Renaissance Technologies LLC lifted its position 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 acquiring an additional 318,360 shares during the period. Finally, FMR LLC grew its holdings in shares of Alamos Gold by 1.9% during 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 in the last quarter. 64.33% of the stock is currently owned by institutional investors and hedge funds.

Alamos Gold Price Performance

NYSE:AGI traded down $1.03 on Wednesday, reaching $27.82. The stock had a trading volume of 3,191,576 shares, compared to its average volume of 2,549,628. The stock has a fifty day moving average price of $25.49 and a 200-day moving average price of $21.69. Alamos Gold Inc. has a 1-year low of $14.31 and a 1-year high of $31.00. The company has a market capitalization of $11.70 billion, a P/E ratio of 40.32, a price-to-earnings-growth 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.

Alamos Gold (NYSE:AGI - Get Free Report) 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 return on equity of 10.05% and a net margin of 21.11%. The company had revenue of $375.80 million during the quarter, compared to analyst estimates of $388.06 million. Research analysts forecast that Alamos Gold Inc. will post 1.29 EPS for the current year.

Alamos Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date was Thursday, March 13th. Alamos Gold's dividend payout ratio is presently 14.49%.

Analysts Set New Price Targets

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

Alamos Gold 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.