TD Securities Raises Alamos Gold Price Target to C$37.00

TD Securities has raised its target price for Alamos Gold (TSE:AGI) from C$35.00 to C$37.00, according to a report released on Friday. The analysts at TD Securities issued a "buy" rating for the company, indicating a positive outlook for the stock.

Market Analysis

This new price target implies a potential upside of approximately 13.85% from the current price of Alamos Gold shares. This upward revision comes amid a favorable context for precious metals, making the stock an attractive option for investors looking to capitalize on this trend.

Other Analysts' Ratings

Several other financial institutions have also recently provided their assessments of Alamos Gold. CIBC has increased its price target to C$46.00, up from C$44.00. National Bank Financial has upgraded the stock from a "hold" to a "strong-buy" rating as of December 2nd. Additionally, Canaccord Genuity has raised their target from C$35.00 to C$39.00, maintaining a "buy" rating. Furthermore, National Bankshares has adjusted its rating from "sector perform" to "outperform," establishing a C$35.00 price objective.

Analyst Consensus and Performance

Overall, these developments reflect a generally favorable consensus regarding Alamos Gold, with seven analysts giving the stock a "buy" rating and two providing a "strong buy". Currently, MarketBeat suggests that the average price target stands at C$31.25 for Alamos Gold.

Recent Trading Activity

On Friday, Alamos Gold shares experienced a slight decline of C$0.19, settling at C$32.50. The company recorded a trading volume of 411,805 shares, noticeably lower than its average volume of 733,374. Alamos Gold has experienced a price range over the past year, with a low of C$15.94 and a high of C$34.42. Its market capitalization is approximately C$9.61 billion, featuring a price-to-earnings ratio of 38.70.

Insider Transactions

In related insider news, David Alexander Fleck, a Director at Alamos Gold, purchased 2,000 shares at an average price of C$26.85 each on December 18th. This transaction totaled C$53,700. Insiders currently hold about 0.27% of the company's stock.

Company Overview

Alamos Gold Inc. is engaged in the acquisition, exploration, and production of gold and other precious metals, operating primarily in Canada and Mexico. The company manages three mining operations, including the Young-Davidson Mine in Canada and the Mulatos and El Chanate Mines in Mexico. The Young-Davidson mine is significant for the company, contributing the largest portion of its revenue, while the property covers approximately 11,000 acres between mineral leases and claims.

Alamos, Gold, Stock