ALAMOS GOLD INC CLS A Can’t Burn Your Portfolio. Has Another Gap Up

 ALAMOS GOLD INC CLS A Can't Burn Your Portfolio. Has Another Gap Up

The stock of ALAMOS GOLD INC CLS A (TSE:AGI) gapped up by $0.02 today and has $13.69 target or 55.00% above today’s $8.83 share price. The 6 months technical chart setup indicates low risk for the $2.31B company. The gap was reported on Nov, 21 by Barchart.com. If the $13.69 price target is reached, the company will be worth $1.27B 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 372,855 shares traded hands. ALAMOS GOLD INC CLS A (TSE:AGI) has risen 8.94% since April 15, 2016 and is uptrending. It has outperformed by 5.08% 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. $12.50 is the highest target while $3 is the lowest. The $8.55 average target is -3.17% below today’s ($8.83) stock price. Alamos Gold Inc. has been the topic of 27 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The rating was upgraded by Scotia Capital on Thursday, August 13 to “Sector Outperform”. National Bank Canada upgraded the stock to “Outperform” rating in Friday, August 12 report. The firm has “Hold” rating by TD Securities given on Friday, November 11. The stock has “Sector Perform” rating given by IBC on Wednesday, August 19. The rating was maintained by Desjardins Securities on Friday, August 12 with “Buy”. The firm earned “Outperform” rating on Friday, July 24 by Raymond James. BMO Capital Markets downgraded the shares of AGI in a report on Wednesday, October 7 to “Under Perform” rating. Howard Weil upgraded the stock to “Outperform” rating in Wednesday, August 12 report.

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