Franklin Resources Inc. Buys 334,176 Shares of Alamos Gold Inc. (NYSE:AGI)

Franklin Resources Inc. increased its stake in Alamos Gold Inc. (NYSE:AGIGet Rating) (TSE:AGI) by 4.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,233,381 shares of the basic materials company’s stock after purchasing an additional 334,176 shares during the period. Franklin Resources Inc. owned approximately 2.10% of Alamos Gold worth $57,776,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Clearbridge Investments LLC increased its position in shares of Alamos Gold by 3.2% in the second quarter. Clearbridge Investments LLC now owns 234,293 shares of the basic materials company’s stock worth $1,645,000 after purchasing an additional 7,204 shares during the period. Toronto Dominion Bank grew its position in Alamos Gold by 4.0% in the second quarter. Toronto Dominion Bank now owns 342,581 shares of the basic materials company’s stock valued at $2,402,000 after acquiring an additional 13,248 shares during the last quarter. Wealthsource Partners LLC grew its position in Alamos Gold by 35.1% in the second quarter. Wealthsource Partners LLC now owns 147,494 shares of the basic materials company’s stock valued at $1,035,000 after acquiring an additional 38,318 shares during the last quarter. King Wealth bought a new position in Alamos Gold in the second quarter valued at about $77,000. Finally, JPMorgan Chase & Co. grew its position in Alamos Gold by 5.4% in the second quarter. JPMorgan Chase & Co. now owns 563,749 shares of the basic materials company’s stock valued at $3,958,000 after acquiring an additional 28,721 shares during the last quarter. Institutional investors own 50.89% of the company’s stock.

Alamos Gold Trading Up 3.3 %

Shares of AGI stock opened at $9.75 on Friday. The business’s 50-day moving average price is $7.91 and its 200-day moving average price is $7.61. Alamos Gold Inc. has a 12 month low of $6.35 and a 12 month high of $9.79. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of 121.89, a PEG ratio of 3.86 and a beta of 1.02.

Alamos Gold (NYSE:AGIGet Rating) (TSE:AGI) last posted its quarterly earnings data on Thursday, October 27th. The basic materials company reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. The company had revenue of $213.60 million for the quarter, compared to analyst estimates of $210.80 million. Alamos Gold had a return on equity of 4.13% and a net margin of 3.28%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 earnings per share. On average, sell-side analysts predict that Alamos Gold Inc. will post 0.27 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 20th. Investors of record on Tuesday, December 6th will be paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Monday, December 5th. Alamos Gold’s dividend payout ratio is currently 125.02%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. TheStreet cut Alamos Gold from a “b-” rating to a “c+” rating in a research report on Thursday, September 15th. assumed coverage on Alamos Gold in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Scotiabank upgraded Alamos Gold from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $10.00 to $11.00 in a research report on Tuesday. Finally, National Bank Financial lifted their price target on Alamos Gold from C$12.50 to C$13.00 in a research note on Thursday, October 13th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Alamos Gold has an average rating of “Moderate Buy” and a consensus target price of $12.61.

About Alamos Gold

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Institutional Ownership by Quarter for Alamos Gold (NYSE:AGI)

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