Alamos Gold (TSE:AGI) Hits New 52-Week High – Here’s What Happened

Alamos Gold Inc. (TSE:AGI) (NYSE:AGI) shares hit a new 52-week high on Wednesday . The company traded as high as C$34.55 and last traded at C$34.53, with a volume of 289907 shares changing hands. The stock had previously closed at C$33.48.

Analyst Ratings Changes

AGI has been the subject of several recent research reports. Canaccord Genuity Group increased their price objective on Alamos Gold from C$35.00 to C$39.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. CIBC lifted their price target on Alamos Gold from C$44.00 to C$46.00 in a report on Friday, February 21st. National Bankshares upgraded Alamos Gold from a “sector perform” rating to an “outperform” rating and set a C$35.00 price objective on the stock in a report on Tuesday, December 3rd. TD Securities lifted their target price on shares of Alamos Gold from C$35.00 to C$37.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, National Bank Financial upgraded shares of Alamos Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Six equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Alamos Gold has a consensus rating of “Buy” and an average target price of C$33.41.

Alamos Gold Trading Up 3.3 %

The firm has a market cap of C$10.23 billion, a P/E ratio of 41.20, a PEG ratio of -2.10 and a beta of 1.10. The company’s 50 day moving average is C$29.96 and its two-hundred day moving average is C$27.92. The company has a debt-to-equity ratio of 8.48, a current ratio of 1.62 and a quick ratio of 1.06.

Insider Activity at Alamos Gold

In related news, Director David Alexander Fleck bought 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was acquired at an average price of C$26.85 per share, for a total transaction of C$53,700.00. 0.27% of the stock is currently owned by corporate insiders.

About Alamos Gold

Alamos Gold Inc acquires, explores, and produces gold and other precious metals, and operates in two principal geographic areas: Canada and Mexico. The company has three operating mines in North America: the Young-Davidson Mine in Canada and the Mulatos and El Chanate Mines in Sonora, Mexico. The Young-Davidson mine is the group’s largest revenue contributor, and the property also holds mineral leases and claims covering approximately 11,000 acres.