Alamos Gold (AGI) Price Target Cut to C$11.50 by Analysts at Scotiabank

Alamos Gold (TSE:AGI) (NYSE:AGI) had its target price lowered by investment analysts at Scotiabank to C$11.50 in a research note issued to investors on Monday, reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 45.57% from the stock’s previous close.

A number of other analysts also recently weighed in on AGI. BMO Capital Markets reiterated an “outperform” rating and set a C$11.50 price target on shares of Alamos Gold in a report on Friday. CIBC decreased their price target on Alamos Gold from C$13.50 to C$12.00 in a report on Thursday. Desjardins reiterated a “hold” rating on shares of Alamos Gold in a report on Monday, December 11th. Finally, Raymond James Financial increased their price target on Alamos Gold from C$12.00 to C$12.50 and gave the stock an “outperform” rating in a report on Thursday, September 14th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of C$12.50.

Shares of Alamos Gold (AGI) traded up C$0.06 during trading on Monday, reaching C$7.90. The company’s stock had a trading volume of 936,548 shares, compared to its average volume of 916,509. Alamos Gold has a 52-week low of C$7.53 and a 52-week high of C$11.83.

In other news, Director Paul Murphy bought 5,000 shares of Alamos Gold stock in a transaction dated Monday, November 6th. The stock was bought at an average cost of C$8.15 per share, for a total transaction of C$40,750.00. Over the last 90 days, insiders bought 15,000 shares of company stock valued at $120,370.

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Alamos Gold Company Profile

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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