Franklin Resources Inc. Purchases 75,820 Shares of Alamos Gold Inc. $AGI

Franklin Resources Inc. boosted its position in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,264,434 shares of the basic materials company’s stock after purchasing an additional 75,820 shares during the period. Franklin Resources Inc.’s holdings in Alamos Gold were worth $125,986,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. O Shaughnessy Asset Management LLC increased its holdings in Alamos Gold by 2.0% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 11,760 shares of the basic materials company’s stock valued at $454,000 after buying an additional 229 shares during the period. Clearstead Advisors LLC lifted its stake in shares of Alamos Gold by 62.8% during the fourth quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company’s stock worth $25,000 after buying an additional 251 shares during the period. Sheets Smith Wealth Management lifted its stake in shares of Alamos Gold by 1.3% during the fourth quarter. Sheets Smith Wealth Management now owns 20,098 shares of the basic materials company’s stock worth $775,000 after buying an additional 258 shares during the period. Private Advisor Group LLC lifted its position in Alamos Gold by 3.2% during the third quarter. Private Advisor Group LLC now owns 9,739 shares of the basic materials company’s stock valued at $340,000 after purchasing an additional 300 shares during the period. Finally, Cary Street Partners Financial LLC lifted its position in Alamos Gold by 1.4% during the fourth quarter. Cary Street Partners Financial LLC now owns 24,730 shares of the basic materials company’s stock valued at $954,000 after purchasing an additional 335 shares during the period. Institutional investors own 64.33% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on AGI. Wall Street Zen downgraded shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 1st. Weiss Ratings cut shares of Alamos Gold from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $50.67.

Alamos Gold Stock Performance

Alamos Gold stock opened at $32.89 on Thursday. The firm has a 50 day simple moving average of $42.50 and a 200-day simple moving average of $42.12. Alamos Gold Inc. has a 1-year low of $23.92 and a 1-year high of $55.41. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 1.61. The stock has a market cap of $13.81 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 0.45 and a beta of 0.49.

Alamos Gold (NYSE:AGI) (TSE:AGI) last posted its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. Alamos Gold had a net margin of 51.24% and a return on equity of 18.03%. The business had revenue of $596.70 million during the quarter, compared to analysts’ expectations of $612.35 million. During the same quarter in the prior year, the company posted $0.14 EPS. The business’s revenue for the quarter was up 79.2% on a year-over-year basis. On average, analysts expect that Alamos Gold Inc. will post 2.46 EPS for the current year.

Alamos Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Thursday, June 11th. Alamos Gold’s dividend payout ratio is currently 6.37%.

About Alamos Gold

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.