Alamos Gold shares reached a new all-time high of $43.47 on Monday, trading at $42.55 during the session. The stock has gained 118.45% over the past 52 weeks.
Gold prices hit record highs on Monday, benefiting companies like Alamos Gold. The U.S. Dollar Index fell nearly 0.3%.
Federal Reserve Chair Jerome Powell revealed on Sunday that he is under criminal investigation related to a $2.5 billion renovation of the Fed's headquarters and his congressional testimony. Some experts are calling Monday's trading activity part of a 'Sell America' trade.
Alamos Gold, a Canadian company valued at $17.6 billion, operates three mines in Canada and Mexico. Barchart maintains a 100% 'Buy' opinion on the stock.
The stock has a Weighted Alpha of +119.90 and recently traded above its 50-day moving average of $36.21. It has made seven new highs in the past month, gaining 10.73% during that period.
Technical indicators show a Relative Strength Index of 71.44 and a support level around $41.38. The Trend Seeker signaled a 'Buy' on November 25, and the stock has gained 23.21% since then.
Analysts tracked by Barchart rate Alamos Gold a 'Strong Buy' with price targets between $39 and $53. Short interest is low at 3% of the float.
The company has a market capitalization of $17.6 billion, a trailing price-earnings ratio of 38.01x, and a dividend yield of 0.23%.
According to JPMorgan on Monday, the 'Sell America' trade could be the dominant market move to start the week. Gold stocks have been moving higher over the past 12 months as the precious metal has hit multiple record highs.