TD Securities Raises Alamos Gold Price Target to C$37.00

Alamos Gold Inc. (TSE:AGI - Get Free Report) has seen a positive shift in its target price following an upgrade from TD Securities. On Friday, analysts at the brokerage increased their target price for the stock from C$35.00 to C$37.00. This move is accompanied by a "buy" rating, indicating that TD Securities believes there is potential for growth in the stock's value.

The new target price implies a possible upside of 13.85% from Alamos Gold's current trading price, highlighting the firm's potential in the mining sector.

Other Analyst Ratings

Several other financial institutions have also weighed in on Alamos Gold. Recently, CIBC raised their price target for the stock from C$44.00 to C$46.00. Meanwhile, National Bank Financial upgraded Alamos Gold from a "hold" to a "strong-buy" rating as of December 2nd. Additionally, Canaccord Genuity Group increased their target price from C$35.00 to C$39.00, maintaining a "buy" rating. On December 3rd, National Bankshares improved their stance from "sector perform" to "outperform" with a price target of C$35.00.

To summarize analysts' views, seven investment analysts have rated Alamos Gold as a buy, while two have given it a strong buy rating. MarketBeat indicates that the consensus rating for Alamos Gold stands at "Buy," with an average price target of C$31.25.

Current Trading Overview

In terms of stock performance, Alamos Gold shares were down by 0.6%, trading at C$32.50 on the day of the report, with a total volume of 411,805 shares. This figure falls short of the average trading volume of 733,374 shares. The company has established a 50-day moving average price of C$29.54 and a two-hundred-day moving average of C$27.65. Over the past year, Alamos Gold's stock has fluctuated, hitting a low of C$15.94 and a high of C$34.42. With a market capitalization of C$9.61 billion, the stock has a price-to-earnings ratio of 38.70 and a beta of 1.10.

Insider Activity

In recent insider transactions, Director David Alexander Fleck bought 2,000 shares of the company at an average price of C$26.85 per share, totaling a value of C$53,700. Currently, insiders own about 0.27% of Alamos Gold's stock.

About Alamos Gold

Alamos Gold Inc. is involved in the acquisition, exploration, and production of gold and other precious metals in North America, operating in Canada and Mexico. It has three active mines: the Young-Davidson Mine in Canada and the Mulatos and El Chanate Mines in Mexico. The Young-Davidson Mine is the primary contributor to the company's revenue, with mineral leases and claims covering approximately 11,000 acres.

Alamos, Gold, Stocks