Canaccord Genuity Group Forecasts Strong Price Appreciation for Alamos Gold (TSE:AGI) Stock

Alamos Gold (TSE:AGI) (NYSE:AGI) had its price objective raised by analysts at Canaccord Genuity Group from C$39.00 to C$44.00 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 25.93% from the stock’s previous close.

A number of other brokerages also recently issued reports on AGI. National Bankshares boosted their price target on Alamos Gold from C$38.00 to C$46.00 and gave the company an “outperform” rating in a report on Wednesday, March 19th. CIBC boosted their target price on shares of Alamos Gold from C$44.00 to C$46.00 in a research note on Friday, February 21st. TD Securities raised their price target on shares of Alamos Gold from C$35.00 to C$37.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Finally, National Bank Financial upgraded shares of Alamos Gold to a “strong-buy” rating in a research report on Friday, March 21st. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$37.25.

Alamos Gold Price Performance

TSE:AGI opened at C$34.94 on Monday. The firm’s fifty day moving average is C$34.37 and its two-hundred day moving average is C$29.79. The firm has a market cap of C$10.33 billion, a price-to-earnings ratio of 41.60, a PEG ratio of -2.10 and a beta of 1.10. Alamos Gold has a one year low of C$19.63 and a one year high of C$38.98. The company has a debt-to-equity ratio of 8.48, a quick ratio of 1.06 and a current ratio of 1.62.

About Alamos Gold

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.