Alamos Gold (TSE:AGI) Stock Passes Above 200-Day Moving Average – Here’s Why

Alamos Gold Inc. (TSE:AGI) (NYSE:AGI) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$32.98 and traded as high as C$37.51. Alamos Gold shares last traded at C$36.72, with a volume of 1,770,366 shares.

Analyst Ratings Changes

Several equities research analysts have weighed in on AGI shares. Canaccord Genuity Group upped their price target on Alamos Gold from C$39.00 to C$44.00 and gave the stock a “buy” rating in a report on Monday, April 7th. CIBC increased their price objective on Alamos Gold from C$46.00 to C$48.00 in a report on Thursday, April 17th. TD Securities dropped their price objective on Alamos Gold from C$48.00 to C$45.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. National Bankshares increased their price objective on Alamos Gold from C$38.00 to C$46.00 and gave the company an “outperform” rating in a report on Wednesday, March 19th. Finally, National Bank Financial raised Alamos Gold to a “strong-buy” rating in a research report on Friday, March 21st. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Alamos Gold presently has an average rating of “Buy” and an average target price of C$40.50.

Alamos Gold Trading Down 1.4%

The business has a 50-day moving average of C$37.14 and a 200-day moving average of C$32.98. The company has a debt-to-equity ratio of 8.48, a quick ratio of 1.06 and a current ratio of 1.62. The stock has a market capitalization of C$10.86 billion, a price-to-earnings ratio of 43.72, a PEG ratio of -2.10 and a beta of 1.10.

Insiders Place Their Bets

In other news, Senior Officer Grace Tang sold 4,000 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of C$36.00, for a total transaction of C$144,000.00. Also, Senior Officer John Michael Fitzgerald sold 40,000 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of C$37.00, for a total value of C$1,479,880.00. In the last ninety days, insiders sold 86,245 shares of company stock valued at $3,193,307. 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.