AGI (NYSE:AGBK) Sets New 12-Month Low – Time to Sell?

AGI Inc (NYSE:AGBK)’s stock price reached a new 52-week low on Monday. The stock traded as low as $5.28 and last traded at $6.1650, with a volume of 20897 shares traded. The stock had previously closed at $5.46.

Wall Street Analyst Weigh In

AGBK has been the topic of a number of recent analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of AGI in a research note on Friday, August 7th. Zacks Research downgraded shares of 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 price objective on shares of AGI in a report on Thursday, August 6th. Finally, Oppenheimer reduced their target price on AGI from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Friday, August 7th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $14.14.

AGI Trading Down 0.6%

The stock has a 50-day moving average of $6.33 and a 200 day moving average of $6.89. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.31. The stock has a market cap of $1.07 billion and a PE ratio of 11.36.

Insider Activity at AGI

In other news, CTO Vinicius Birkeland Aloe sold 256,386 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $11.99, for a total value of $3,074,068.14. Following the sale, the chief technology officer 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 through 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.