Alamos Gold (TSE:AGI) Reaches New 52-Week High Following Analyst Upgrade

Alamos Gold Inc. (TSE:AGI) (NYSE:AGI) shares hit a new 52-week high during trading on Wednesday after TD Securities raised their price target on the stock from C$37.00 to C$48.00. The company traded as high as C$42.97 and last traded at C$42.00, with a volume of 621310 shares trading hands. The stock had previously closed at C$41.42.

A number of other equities analysts have also recently issued reports on the stock. National Bankshares increased their price objective on shares of Alamos Gold from C$38.00 to C$46.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 19th. Canaccord Genuity Group boosted their price objective on Alamos Gold from C$39.00 to C$44.00 and gave the company a “buy” rating in a research note on Monday, April 7th. National Bank Financial upgraded Alamos Gold to a “strong-buy” rating in a research note on Friday, March 21st. Finally, CIBC upped their target price on Alamos Gold from C$44.00 to C$46.00 in a research note on Friday, February 21st. Five research 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 currently has a consensus rating of “Buy” and an average target price of C$40.67.

Alamos Gold Trading Up 0.9 %

The company has a 50 day moving average price of C$35.37 and a 200 day moving average price of C$30.27. The firm has a market cap of C$12.36 billion, a price-to-earnings ratio of 49.77, a price-to-earnings-growth ratio of -2.10 and a beta of 1.10. The company has a debt-to-equity ratio of 8.48, a quick ratio of 1.06 and a current ratio of 1.62.

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.