AGI (NYSE:AGBK) Stock Jumps 8% - Still a Buy?

Key Points

• AGI shares jumped about 8% to $7.67, although trading volume was 69% below the stock’s average daily volume.
• Analyst sentiment is mixed: six analysts rate the stock Buy, one Hold and two Sell, producing a consensus Hold rating despite an average price target of $14.14.
• CTO Vinicius Birkeland Aloe sold 256,386 shares for approximately $3.07 million, reducing his direct ownership stake by 59.24%.

AGI Inc (NYSE:AGBK - Get Free Report)'s stock price shot up 8% during mid-day trading on Tuesday. The stock traded as high as $7.72 and last traded at $7.67. 134,355 shares were traded during trading, a decline of 69% from the average daily volume of 428,611 shares. The stock had previously closed at $7.10.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Oppenheimer reduced their price target on AGI from $10.00 to $9.00 and set an "outperform" rating for the company in a research report on Friday, August 7th. Zacks Research lowered AGI from a "hold" rating to a "strong sell" rating in a report on Thursday, July 16th. Weiss Ratings reiterated a "sell (d)" rating on shares of AGI in a research report on Friday, August 7th. Finally, The Goldman Sachs Group set a $13.00 price target on shares of AGI in a report on Thursday, August 6th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $14.14.

AGI Trading Up 8.8%

The company has a debt-to-equity ratio of 0.31, a current ratio of 1.51 and a quick ratio of 1.51. The stock has a market cap of $1.24 billion and a P/E ratio of 13.09. The firm's fifty day moving average price is $6.37 and its two-hundred day moving average price is $6.83.

Insider Buying and Selling

In other AGI news, CTO Vinicius Birkeland Aloe sold 256,386 shares of the company's stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $11.99, for a total value of $3,074,068.14. Following the transaction, the chief technology officer directly owned 176,423 shares in the company, valued at $2,115,311.77. This represents a 59.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

About AGI

Alamos Gold Inc is a Canadian-based gold producer engaged in the acquisition, exploration, development and operation of gold properties. The company's activities are focused primarily on North America, with operating assets in Canada and Mexico.

Alamos Gold operates the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mining complex in Sonora, Mexico. Its portfolio also includes development and exploration projects, including the Lynn Lake project in Manitoba, Canada, as the company works to expand its production base and mineral reserves.

The company is headquartered in Toronto, Ontario, and has historically focused on developing long-life, low-cost gold operations through exploration, mine expansion and operational improvements.

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