Alamos Gold (AGI) Trading Down 3.7% on Analyst Downgrade
Shares of Alamos Gold Inc (TSE:AGI) (NYSE:AGI) were down 3.7% on Thursday after CIBC lowered their price target on the stock from C$13.50 to C$12.00. The stock traded as low as C$7.82 and last traded at C$7.87. Approximately 717,762 shares were traded during mid-day trading, a decline of 20% from the average daily volume of 895,217 shares. The stock had previously closed at C$8.17.
Several other analysts have also weighed in on AGI. Raymond James Financial lifted their price objective on shares of Alamos Gold from C$12.00 to C$12.50 and gave the company an “outperform” rating in a research note on Thursday, September 14th. BMO Capital Markets decreased their price target on shares of Alamos Gold from C$14.00 to C$11.50 in a research note on Friday, November 24th. Finally, Desjardins restated a “hold” rating on shares of Alamos Gold in a research note on Monday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of C$12.44.
In other Alamos Gold news, Director John Mccluskey purchased 5,000 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was acquired at an average price of C$7.92 per share, for a total transaction of C$39,600.00. Insiders have acquired a total of 15,500 shares of company stock valued at $124,875 in the last 90 days.
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About Alamos Gold
Alamos Gold Inc is a Canada-based company, which is engaged in the acquisition, exploration, development and extraction of precious metals. The Company’s segments include Young-Davidson, Mulatos, El Chanate and Corporate/other. Its Corporate and other segment consists of exploration and development projects.
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