Alamos Gold (TSE:AGI) Stock Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Alamos Gold's stock price recently surpassed its 200-day moving average, trading at C$36.15 compared to the average of C$35.21, indicating positive momentum in the stock's performance.
• Multiple analysts have projected increase in price targets for Alamos Gold, with National Bankshares raising theirs to C$52.25 and Canaccord Genuity to C$44.00, while overall the stock holds an average rating of "Buy."
• Insider selling has occurred recently, with notable transactions totaling over C$3 million in the past ninety days, highlighting potential concerns about management confidence in the stock.

Alamos Gold Inc. (TSE:AGI - Get Free Report) NYSE: AGI's stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$35.21 and traded as high as C$36.15. Alamos Gold shares last traded at C$35.13, with a volume of 1,360,781 shares traded.

Wall Street Analysts Forecast Growth

AGI has been the topic of several recent research reports. Canaccord Genuity Group upped their price objective on Alamos Gold from C$39.00 to C$44.00 and gave the stock a "buy" rating in a research report on Monday, April 7th. TD Securities decreased their target price on Alamos Gold from C$48.00 to C$47.00 and set a "buy" rating on the stock in a research report on Friday. Stifel Canada upgraded 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, National Bankshares lifted their price target on Alamos Gold from C$51.75 to C$52.25 and gave the stock an "outperform" rating in a report on Friday, June 27th. Four equities research 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, the company currently has a consensus rating of "Buy" and a consensus price target of C$44.45.

Alamos Gold Stock Performance

The company has a market capitalization of C$10.13 billion, a price-to-earnings ratio of 40.77, a P/E/G 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. The firm has a 50-day simple moving average of C$36.05 and a two-hundred day simple moving average of C$35.35.

Insider Buying and Selling at Alamos Gold

In related news, Senior Officer Grace Tang sold 4,000 shares of the business's 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 business's 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 90 days, insiders sold 86,245 shares of company stock valued at $3,193,307. 0.27% of the stock is currently owned by company insiders.

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.