AGI (NYSE:AGBK) Stock Jumps 7.8% – Should You Buy?

AGI Inc (NYSE:AGBK) shares traded up 7.8% during mid-day trading on Tuesday. The stock traded as high as $6.94 and last traded at $7.2850. 7,577 shares were traded during trading, a decline of 98% from the average daily volume of 431,857 shares. The stock had previously closed at $6.76.

Wall Street Analyst Weigh In

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

AGI Trading Down 3.2%

The business’s 50 day moving average is $6.31 and its 200-day moving average is $6.83. The company has a quick ratio of 1.51, a current 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website.

About AGI

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.