AGI (NYSE:AGBK) Shares Up 8% – Time to Buy?

Shares of AGI Inc (NYSE:AGBK) rose 8% during trading on Tuesday. The company traded as high as $7.72 and last traded at $7.67. 134,355 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 428,611 shares. The stock had previously closed at $7.10.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AGBK shares. The Goldman Sachs Group set a $13.00 price objective on shares of AGI in a report on Thursday, August 6th. Oppenheimer lowered their price target on AGI from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AGI in a research note on Friday, August 7th. Finally, Zacks Research cut AGI from a “hold” rating to a “strong sell” rating in a report on Thursday, July 16th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $14.14.

AGI Trading Up 8.8%

The stock has a market capitalization of $1.24 billion and a P/E ratio of 13.09. The stock’s fifty day moving average price is $6.37 and its two-hundred day moving average price is $6.83. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31.

Insiders Place Their Bets

In other AGI news, CTO Vinicius Birkeland Aloe sold 256,386 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $11.99, for a total transaction of $3,074,068.14. Following the completion of the sale, the chief technology officer directly owned 176,423 shares in the company, valued at $2,115,311.77. This represents a 59.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

AGI Company Profile

Alamos Gold Inc is a Canadian-based gold producer engaged in the acquisition, exploration, development and operation of gold properties. The company’s activities are focused primarily on North America, with operating assets in Canada and Mexico.

Alamos Gold operates the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mining complex in Sonora, Mexico. Its portfolio also includes development and exploration projects, including the Lynn Lake project in Manitoba, Canada, as the company works to expand its production base and mineral reserves.

The company is headquartered in Toronto, Ontario, and has historically focused on developing long-life, low-cost gold operations through exploration, mine expansion and operational improvements.