Jennison Associates LLC Sells 408,009 Shares of Alamos Gold Inc. $AGI

Jennison Associates LLC lowered its position in shares of Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 59.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 274,738 shares of the basic materials company’s stock after selling 408,009 shares during the quarter. Jennison Associates LLC owned about 0.07% of Alamos Gold worth $12,207,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Alamos Gold by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 17,565,941 shares of the basic materials company’s stock worth $678,291,000 after acquiring an additional 332,335 shares in the last quarter. Generate Investment Management Ltd increased its stake in shares of Alamos Gold by 14.3% during the fourth quarter. Generate Investment Management Ltd now owns 1,200,000 shares of the basic materials company’s stock valued at $46,296,000 after purchasing an additional 150,000 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Alamos Gold by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,679,980 shares of the basic materials company’s stock valued at $74,757,000 after purchasing an additional 141,000 shares in the last quarter. PKO Investment Management Joint Stock Co lifted its holdings in shares of Alamos Gold by 21.9% during the first quarter. PKO Investment Management Joint Stock Co now owns 197,463 shares of the basic materials company’s stock valued at $8,767,000 after purchasing an additional 35,463 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of Alamos Gold during the fourth quarter valued at approximately $72,410,000. Institutional investors own 64.33% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on AGI shares. Bank of America dropped their price target on Alamos Gold from $50.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Alamos Gold in a research report on Saturday, June 20th. Jefferies Financial Group lowered their price objective on Alamos Gold from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Royal Bank Of Canada dropped their target price on Alamos Gold from $52.00 to $42.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Finally, Wall Street Zen cut Alamos Gold from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.

Alamos Gold Price Performance

Shares of AGI opened at $29.51 on Wednesday. Alamos Gold Inc. has a twelve month low of $23.92 and a twelve month high of $55.41. The company has a market capitalization of $12.35 billion, a P/E ratio of 11.76, a price-to-earnings-growth ratio of 0.36 and a beta of 0.55. The firm has a 50 day moving average of $34.66 and a 200 day moving average of $40.91. 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 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. Alamos Gold had a return on equity of 18.03% and a net margin of 51.24%.The business had revenue of $596.70 million for the quarter, compared to analysts’ expectations of $612.35 million. During the same period in the prior year, the firm posted $0.14 EPS. The firm’s quarterly revenue was up 79.2% on a year-over-year basis. As a group, equities research analysts anticipate that Alamos Gold Inc. will post 2.19 earnings per share for the current fiscal year.

Alamos Gold Dividend Announcement

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

Alamos Gold 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.