Alamos Gold Inc (AGI) Stake Decreased by Franklin Resources Inc.

Franklin Resources Inc. reduced its stake in Alamos Gold Inc (NYSE:AGI) (TSE:AGI) by 5.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 42,038,658 shares of the basic materials company’s stock after selling 2,594,470 shares during the quarter. Franklin Resources Inc. owned about 0.11% of Alamos Gold worth $193,592,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in AGI. CIBC Asset Management Inc increased its holdings in shares of Alamos Gold by 125.4% during the 2nd quarter. CIBC Asset Management Inc now owns 9,367,625 shares of the basic materials company’s stock valued at $53,380,000 after purchasing an additional 5,211,004 shares in the last quarter. Formula Growth Ltd. raised its holdings in shares of Alamos Gold by 613.0% during the 2nd quarter. Formula Growth Ltd. now owns 4,991,300 shares of the basic materials company’s stock worth $28,400,000 after acquiring an additional 4,291,300 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Alamos Gold by 59.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 10,698,902 shares of the basic materials company’s stock worth $49,322,000 after acquiring an additional 3,995,623 shares during the period. Shell Asset Management Co. raised its holdings in shares of Alamos Gold by 60.4% during the 3rd quarter. Shell Asset Management Co. now owns 3,102,367 shares of the basic materials company’s stock worth $14,301,000 after acquiring an additional 1,168,180 shares during the period. Finally, Van ECK Associates Corp raised its holdings in Alamos Gold by 2.9% in the 2nd quarter. Van ECK Associates Corp now owns 39,650,481 shares of the basic materials company’s stock valued at $225,622,000 after buying an additional 1,118,918 shares during the period. 60.05% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Alamos Gold from a “sell” rating to a “hold” rating in a research note on Friday, September 21st. ValuEngine raised Alamos Gold from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 2nd. CSFB reaffirmed an “outperform” rating and issued a $7.50 price target on shares of Alamos Gold in a report on Friday, September 7th. Finally, Raymond James reissued a “buy” rating on shares of Alamos Gold in a report on Friday, November 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $7.65.

Shares of NYSE:AGI opened at $3.22 on Friday. Alamos Gold Inc has a 12-month low of $3.10 and a 12-month high of $6.84. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 26.83, a price-to-earnings-growth ratio of 1.67 and a beta of 0.34.

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About Alamos Gold

Alamos Gold Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and extraction of gold deposits in North America. It also explores for silver and precious metals. The company holds interests in the Young-Davidson mine, which includes contiguous mineral leases and claims totaling 11,000 acres located in Northern Ontario, Canada; the Mulatos mine located within the Salamandra Concessions in the Sierra Madre Occidental mountain range in the east-central portion of the State of Sonora, Mexico; and the El Chanate mine that comprises 22 mineral concessions covering 4,618 hectares situated in the State of Sonora, Mexico.

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

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