Alamos Gold (TSE:AGI) Share Price Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Alamos Gold's stock price recently crossed above its 200-day moving average, closing at C$36.25, signaling potential bullish momentum.
• Wall Street analysts are optimistic about the stock, with several raising their price targets, and the average rating being "Buy" with a target of C$44.45.
• Insider activity shows notable selling, with over 79,000 shares sold by company executives in the past three months, which may indicate a need for caution among investors.

Alamos Gold Inc. (TSE:AGI - Get Free Report) NYSE: AGI's stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$35.50 and traded as high as C$36.66. Alamos Gold shares last traded at C$36.25, with a volume of 525,549 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. National Bankshares lifted their target price on Alamos Gold from C$51.75 to C$52.25 and gave the company an "outperform" rating in a report on Friday, June 27th. Stifel Canada raised Alamos Gold to a "strong-buy" rating in a report on Tuesday, July 8th. CIBC lifted their price target on Alamos Gold from C$46.00 to C$48.00 in a report on Thursday, April 17th. Finally, TD Securities decreased their price target on Alamos Gold from C$48.00 to C$47.00 and set a "buy" rating for the company in a report on Friday, August 1st. Four analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of C$44.45.

Alamos Gold Price Performance

The stock has a 50-day moving average price of C$36.03 and a 200 day moving average price of C$35.69. The company has a debt-to-equity ratio of 8.48, a current ratio of 1.62 and a quick ratio of 1.06. The firm has a market cap of C$10.53 billion, a price-to-earnings ratio of 42.37, a PEG ratio of -2.10 and a beta of 1.10.

Insider Transactions at Alamos Gold

In other news, Senior Officer Grace Tang sold 4,000 shares of Alamos Gold stock in a transaction dated 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 Gregory S. Fisher sold 10,000 shares of Alamos Gold stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of C$37.27, for a total value of C$372,700.00. Insiders have sold a total of 79,204 shares of company stock worth $2,928,736 over the last three months. 0.27% of the stock is currently 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.