CIBC Forecasts Strong Price Appreciation for Alamos Gold (TSE:AGI) Stock

Alamos Gold (TSE:AGI) (NYSE:AGI) had its price objective boosted by analysts at CIBC from C$38.00 to C$40.00 in a research note issued to investors on Monday,BayStreet.CA reports. CIBC’s target price suggests a potential upside of 53.49% from the stock’s current price.

AGI has been the subject of several other research reports. National Bankshares increased their price objective on shares of Alamos Gold from C$28.00 to C$30.00 and gave the company a “hold” rating in a research report on Monday, September 16th. National Bank Financial lowered shares of Alamos Gold from a “strong-buy” rating to a “hold” rating in a research report on Sunday, September 8th. Finally, BMO Capital Markets increased their price objective on shares of Alamos Gold from C$27.00 to C$31.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$26.00.

Alamos Gold Price Performance

Shares of TSE:AGI traded down C$0.55 during midday trading on Monday, reaching C$26.06. 184,196 shares of the company were exchanged, compared to its average volume of 710,996. The company has a current ratio of 3.04, a quick ratio of 1.06 and a debt-to-equity ratio of 0.04. The business’s fifty day moving average is C$27.13 and its two-hundred day moving average is C$24.76. Alamos Gold has a one year low of C$15.27 and a one year high of C$29.66. The stock has a market cap of C$10.94 billion, a PE ratio of 38.32, a price-to-earnings-growth ratio of -2.10 and a beta of 1.10.

Alamos Gold (TSE:AGI) (NYSE:AGI) last issued its earnings results on Wednesday, November 6th. The company reported C$0.26 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.30 by C($0.04). Alamos Gold had a return on equity of 6.72% and a net margin of 17.72%. The company had revenue of C$492.35 million for the quarter. As a group, analysts predict that Alamos Gold will post 1.4774775 earnings per share for the current year.

Insider Buying and Selling

In other Alamos Gold news, Senior Officer Nicole Marie Lichowit sold 1,590 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of C$28.66, for a total transaction of C$45,569.40. Following the transaction, the insider now owns 374 shares of the company’s stock, valued at approximately C$10,718.84. This trade represents a 80.96 % decrease in their position. Also, Senior Officer John Michael Fitzgerald sold 20,456 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of C$27.73, for a total transaction of C$567,150.78. 0.27% of the stock is currently owned by insiders.

About Alamos Gold

Alamos Gold Inc engages in the acquisition, exploration, development, and extraction of precious metals in Canada and Mexico. The company primarily explores for gold deposits. It holds 100% interest in the Young-Davidson mine and Island Gold mine located in the Ontario, Canada; Mulatos mine located in the Sonora, Mexico; and Lynn Lake project situated in the Manitoba, Canada.