Canadian General Investments (TSE:CGI) Sets New 1-Year High - What's Next?

Key Points

• Canadian General Investments' shares reached a new 52-week high of C$47.00, with last trading at C$46.75.
• The Royal Bank of Canada has lowered its price target for the company from C$185.00 to C$175.00, indicating a potential shift in analyst sentiment.
• Insider activity includes Director Clive William Robinson purchasing 1,000 shares at an average price of C$40.96 each, reflecting confidence in the company's prospects.

Canadian General Investments (TSE:CGI - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$47.00 and last traded at C$46.75, with a volume of 602 shares trading hands. The stock had previously closed at C$45.60.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada reduced their price target on shares of Canadian General Investments from C$185.00 to C$175.00 in a report on Thursday, July 31st.

Canadian General Investments Stock Up 4.2%

The firm has a market cap of C$990.90 million, a price-to-earnings ratio of 5.33 and a beta of -0.41. The firm's fifty day moving average is C$42.21 and its two-hundred day moving average is C$38.58. The company has a debt-to-equity ratio of 13.42, a current ratio of 6.79 and a quick ratio of 7.44.

Insiders Place Their Bets

In other Canadian General Investments news, Director Clive William Robinson purchased 1,000 shares of the business's stock in a transaction on Thursday, July 24th. The stock was bought at an average cost of C$40.96 per share, with a total value of C$40,960.00. Insiders own 16.00% of the company's stock.

About Canadian General Investments

A closed-end equity fund focused on medium to long-term capital appreciation and dividends in Canadian corporations. The Manager utilizes a bottom-up investment strategy in an effort to achieve the Corporations investment objectives. With this type of investment strategy, the Manager first seeks individual companies with attractive investment potential, then proceeds to consider the larger industry, economic and global trends affecting those companies.

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