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

Alamos Gold Inc. (TSE:AGI) (NYSE:AGI)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$37.88 and last traded at C$37.50, with a volume of 388303 shares trading hands. The stock had previously closed at C$36.75.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AGI shares. CIBC lifted their price objective on Alamos Gold from C$44.00 to C$46.00 in a research note on Friday, February 21st. TD Securities increased 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. Canaccord Genuity Group lifted their price target on shares of Alamos Gold from C$35.00 to C$39.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. National Bank Financial upgraded Alamos Gold to a “strong-buy” rating in a research note on Friday. Finally, National Bankshares increased their target price 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. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$34.78.

Alamos Gold Stock Performance

The firm has a fifty day simple moving average of C$32.40 and a 200-day simple moving average of C$28.88. The stock has a market cap of C$11.07 billion, a price-to-earnings ratio of 44.55, a P/E/G ratio of -2.10 and a beta of 1.10. The company has a current ratio of 1.62, a quick ratio of 1.06 and a debt-to-equity ratio of 8.48.

Alamos Gold Company Profile

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.