Alamos Gold Inc. [NYSE: AGI] gained 6.99% on the last trading session, reaching $14.55 price per share at the time. The company report on March 27, 2024 at 11:43 AM that ORFORD SHAREHOLDERS APPROVE PLAN OF ARRANGEMENT.
Orford Mining Corporation (TSXV: ORM) (“Orford” or the “Company”) is pleased to announce that at its special shareholder meeting held today (the “Meeting”), Orford obtained the requisite shareholder approval of its previously announced proposed plan of arrangement pursuant to which Alamos Gold Inc. (TSX: AGI, NYSE: AGI) (“Alamos”) will acquire all of the outstanding common shares of Orford (“Orford Shares”) not already owned by Alamos (the “Arrangement”). For further details of the Arrangement, please refer to the Company’s press releases dated January 15, 2024 and March 20, 2024, and the management information circular of the Company dated February 23, 2024, in respect of the Meeting, each available on SEDAR+ under Orford’s profile at www.sedarplus.com.
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Completion of the Arrangement is subject to the receipt of the final order of the Ontario Superior Court of Justice (Commercial List) (the “Court”), which is expected to be sought on April 2, 2024. In addition, certain closing conditions customary for transactions of this nature are required to be satisfied in order for the Arrangement to occur. Provided the approval of the Court is granted and all other closing conditions are satisfied or waived, the Company expects the Arrangement to be completed on April 3, 2024, at which time the Company will apply to have its common shares delisted from the TSX Venture Exchange and cease to be a reporting issuer.
If compared to the average trading volume of 2.41M shares, AGI reached a trading volume of 5620962 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Alamos Gold Inc. [AGI]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AGI shares is $15.65 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AGI stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Jefferies have made an estimate for Alamos Gold Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 29, 2024. The new note on the price target was released on January 11, 2024, representing the official price target for Alamos Gold Inc. stock.
The Average True Range (ATR) for Alamos Gold Inc. is set at 0.42, with the Price to Sales ratio for AGI stock in the period of the last 12 months amounting to 5.64. The Price to Book ratio for the last quarter was 1.98, with the Price to Cash per share for the same quarter was set at 0.60. Price to Free Cash Flow for AGI in the course of the last twelve months was 47.06 with Quick ratio for the last quarter at 1.27.
Trading performance analysis for AGI stock
Alamos Gold Inc. [AGI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.99. With this latest performance, AGI shares gained by 26.41% in over the last four-week period, additionally plugging by 27.19% over the last 6 months – not to mention a rise of 23.62% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AGI stock in for the last two-week period is set at 71.09, with the RSI for the last a single of trading hit 76.19, and the three-weeks RSI is set at 66.73 for Alamos Gold Inc. [AGI]. The present Moving Average for the last 50 days of trading for this stock 12.56, while it was recorded at 13.78 for the last single week of trading, and 12.53 for the last 200 days.
Alamos Gold Inc. [AGI]: A deeper dive into fundamental analysis
Alamos Gold Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.27 and a Current Ratio set at 2.36.
Alamos Gold Inc. [AGI]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Alamos Gold Inc. posted 0.12/share EPS, while the average EPS was predicted by analysts to be reported at 0.1/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 20.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AGI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Alamos Gold Inc. go to -13.89%.
An analysis of Institutional ownership at Alamos Gold Inc. [AGI]
The top three institutional holders of AGI stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in AGI stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in AGI stock with ownership which is approximately 5.8325%.
