Alamos Gold (TSE:AGI) Shares Cross Above 200 Day Moving Average – Here’s Why

Shares of Alamos Gold Inc. (TSE:AGI) (NYSE:AGI) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$51.74 and traded as high as C$69.61. Alamos Gold shares last traded at C$69.46, with a volume of 1,375,190 shares changing hands.

Analyst Ratings Changes

AGI has been the subject of several recent research reports. Bank of America upped their target price on shares of Alamos Gold from C$67.00 to C$78.50 in a research report on Thursday, February 26th. Stifel Nicolaus raised their price target on Alamos Gold from C$65.00 to C$80.00 in a research report on Tuesday, February 10th. TD Securities lifted their price objective on Alamos Gold from C$55.00 to C$66.00 in a research note on Thursday, January 22nd. National Bank Financial upped their price objective on Alamos Gold from C$68.00 to C$75.00 and gave the company an “outperform” rating in a report on Wednesday, January 14th. Finally, Desjardins increased their target price on Alamos Gold from C$70.00 to C$80.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of C$70.67.

Alamos Gold Price Performance

The company’s 50 day simple moving average is C$60.65 and its 200 day simple moving average is C$52.05. The company has a debt-to-equity ratio of 5.27, a current ratio of 1.72 and a quick ratio of 1.06. The stock has a market cap of C$28.18 billion, a P/E ratio of 31.96, a P/E/G ratio of -2.10 and a beta of 1.55.

Alamos Gold (TSE:AGI) (NYSE:AGI) last announced its quarterly earnings results on Wednesday, February 18th. The company reported C$0.74 earnings per share for the quarter. Alamos Gold had a net margin of 49.07% and a return on equity of 22.48%. The company had revenue of C$765.13 million for the quarter. As a group, equities analysts forecast that Alamos Gold Inc. will post 1.4774775 earnings per share for the current year.

Alamos Gold Company Profile

Alamos is a Canadian-based intermediate gold producer with diversified production from three operations in North America. This includes the Island Gold District and Young-Davidson mine in northern Ontario, Canada, and the Mulatos District in Sonora State, Mexico. Additionally, the Company has a strong portfolio of growth projects, including the Phase 3+ Expansion at Island Gold, and the Lynn Lake project in Manitoba, Canada. Alamos employs more than 2,400 people and is committed to the highest standards of sustainable development.