Alamos Gold (TSE:AGI) Reaches New 1-Year High – Here’s Why

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. National Bankshares raised 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 increased their price objective on 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. CIBC boosted their price target on Alamos Gold from C$44.00 to C$46.00 in a report on Friday, February 21st. Canaccord Genuity Group increased their price objective on shares of Alamos Gold from C$35.00 to C$39.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, National Bank Financial raised Alamos Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of C$33.41.

Alamos Gold Price Performance

The company has a debt-to-equity ratio of 8.48, a current ratio of 1.62 and a quick ratio of 1.06. The company has a market cap of C$10.11 billion, a PE ratio of 40.70, a P/E/G ratio of -2.10 and a beta of 1.10. The company has a 50-day moving average price of C$30.28 and a two-hundred day moving average price of C$28.01.

Insiders Place Their Bets

In other news, Director David Alexander Fleck purchased 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were purchased at an average price of C$26.85 per share, with a total value of C$53,700.00. 0.27% of the stock is owned by company 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.