The stock of ALAMOS GOLD INC CLS A (TSE:AGI) gapped up by $0.03 today and has $14.93 target or 38.00% above today’s $10.82 share price. The 8 months technical chart setup indicates low risk for the $2.80 billion company. The gap was reported on Nov, 1 by Barchart.com. If the $14.93 price target is reached, the company will be worth $1.06B more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 682,062 shares traded hands. ALAMOS GOLD INC CLS A (TSE:AGI) has risen 59.88% since March 28, 2016 and is uptrending. It has outperformed by 56.86% the S&P500.
ALAMOS GOLD INC CLS A (TSE:AGI) Ratings Coverage
Out of 9 analysts covering Alamos Gold Inc. (TSE:AGI), 5 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 56% are positive. Alamos Gold Inc. has been the topic of 26 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The stock of ALAMOS GOLD INC CLS A (TSE:AGI) has “Sector Outperform” rating given on Thursday, August 13 by Scotia Capital. The rating was upgraded by IBC to “Sector Perform” on Wednesday, August 19. The firm has “Buy” rating by Desjardins Securities given on Friday, August 12. National Bank Canada upgraded the stock to “Outperform” rating in Friday, August 12 report. The rating was upgraded by Raymond James to “Outperform” on Friday, July 24. On Wednesday, October 7 the stock rating was downgraded by BMO Capital Markets to “Under Perform”. The firm has “Outperform” rating given on Wednesday, August 12 by Howard Weil.
More recent ALAMOS GOLD INC CLS A (TSE:AGI) news were published by: Gurufocus.com which released: “Donald Smith Adds to His Ninth-Most Valuable Stake” on August 13, 2015. Also Theglobeandmail.com published the news titled: “Wednesday’s TSX breakouts: This company’s strong cash balance provides comfort …” on July 06, 2016. Theglobeandmail.com‘s news article titled: “Tuesday’s TSX breakouts: Valuation not compelling for this bank stock” with publication date: June 28, 2016 was also an interesting one.
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