Franklin Resources Inc. Increases Position in Alamos Gold Inc. $AGI

Franklin Resources Inc. increased its stake in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 2.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,264,434 shares of the basic materials company’s stock after acquiring an additional 75,820 shares during the period. Franklin Resources Inc. owned about 0.78% of Alamos Gold worth $125,986,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Atlantic Union Bankshares Corp purchased a new stake in Alamos Gold during the fourth quarter valued at about $25,000. Clearstead Advisors LLC raised its position in shares of Alamos Gold by 62.8% in the 4th quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 251 shares in the last quarter. Bayforest Capital Ltd purchased a new position in shares of Alamos Gold during the fourth quarter valued at approximately $44,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Alamos Gold by 69.6% during the third quarter. EverSource Wealth Advisors LLC now owns 1,416 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 581 shares during the last quarter. Finally, State of Wyoming purchased a new position in shares of Alamos Gold during the fourth quarter valued at approximately $71,000. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

Alamos Gold Stock Down 6.0%

AGI opened at $32.89 on Thursday. The firm has a 50-day simple moving average of $42.50 and a two-hundred day simple moving average of $42.12. Alamos Gold Inc. has a 52 week low of $23.92 and a 52 week high of $55.41. The company has a market capitalization of $13.81 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 0.45 and a beta of 0.49. The company has a quick ratio of 1.61, a current ratio of 2.01 and a debt-to-equity ratio of 0.05.

Alamos Gold (NYSE:AGI) (TSE:AGI) last released its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $0.54 EPS 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 the consensus estimate of $612.35 million. During the same quarter in the prior year, the firm earned $0.14 EPS. The business’s revenue was up 79.2% on a year-over-year basis. Analysts forecast that Alamos Gold Inc. will post 2.46 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 11th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. Alamos Gold’s dividend payout ratio (DPR) is presently 6.37%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AGI. Wall Street Zen lowered shares of Alamos Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 1st. Weiss Ratings downgraded shares of Alamos Gold from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Alamos Gold has a consensus rating of “Buy” and an average target price of $50.67.

Alamos Gold Company Profile

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.