SM: Alamos Gold Price Target Raised to C$9.00 at Canaccord Genuity (AGI)
Equities researchers at Canaccord Genuity lifted their price objective on shares of Alamos Gold (TSE:AGI) from C$8.50 to C$9.00 in a research report issued on Tuesday, MarketBeat Ratings reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity’s price objective indicates a potential upside of 28.76% from the company’s current price.
Alamos Gold (TSE:AGI) traded down 8.15% during mid-day trading on Tuesday, hitting $6.42. 655,077 shares of the company’s stock traded hands. Alamos Gold has a 52 week low of $6.41 and a 52 week high of $11.26. The stock has a 50-day moving average of $7.70 and a 200-day moving average of $7.89. The company’s market cap is $817.63 million.
A number of other analysts have also recently weighed in on AGI. Analysts at National Bank Financial raised their price target on shares of Alamos Gold to C$10.00 and gave the company an “outperform” rating in a research note on Friday. Analysts at Desjardins upgraded shares of Alamos Gold from a “hold” rating to a “buy” rating in a research note on Monday, June 15th. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Alamos Gold in a research note on Tuesday, June 2nd. Analysts at BMO Capital Markets raised their price target on shares of Alamos Gold from C$9.25 to C$10.25 and gave the company an “outperform” rating in a research note on Tuesday, April 14th. Finally, analysts at TD Securities downgraded shares of Alamos Gold from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$11.00 to C$9.00 in a research note on Tuesday, April 14th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of C$10.06.
In other Alamos Gold news, Director John Mccluskey bought 5,000 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was purchased at an average cost of C$7.18 per share, for a total transaction of C$35,900.00.
Alamos Gold Inc. is a Canada-based mid-tier gold producer. The Company is engaged in the acquisition, exploration, development and extraction of precious metals. It is engaged in the exploration and development activities in Mexico, Turkey and the United States. It owns and operates the Mulatos mine in Mexico and holds the mineral rights to the Salamandra group of concessions in the State of Sonora, Mexico, which includes several satellite gold occurrences. It also owns the Agi Dagi, Kirazli and Camyurt gold development projects in Turkey. Agi Dagi and Kirazli gold development projects are located in Canakkale Province, Turkey. The Camyurt project is located three kilometres southeast of the Agi Dagi project. The Company owns the Esperanza Gold Project, which is a development stage asset located in south-central Mexico in the state of Morelos. It owns a 100% interest in the Quartz Mountain Property, which is located in south-central Oregon.
