AGF Management Limited (OTCMKTS:AGFMF) Sees Significant Increase in Short Interest

AGF Management Limited (OTCMKTS:AGFMF) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totalling 9,100 shares, an increase of 911.1% from the September 15th total of 900 shares. Based on an average daily volume of 1,000 shares, the days-to-cover ratio is presently 9.1 days.

A number of research analysts have weighed in on the company. Barclays upgraded AGF Management from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, June 23rd. BMO Capital Markets raised their price target on AGF Management from C$8.00 to C$8.50 and gave the company a “market perform” rating in a research note on Thursday, July 1st. Royal Bank of Canada lifted their target price on AGF Management from C$8.50 to C$9.00 and gave the stock a “sector perform” rating in a research note on Monday, June 28th. Scotiabank lifted their target price on AGF Management from C$8.00 to C$9.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 16th. Finally, Desjardins lifted their target price on AGF Management from C$10.50 to C$10.75 and gave the stock a “buy” rating in a research note on Friday, October 1st. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, AGF Management currently has a consensus rating of “Hold” and an average price target of $9.04.

AGFMF opened at $6.13 on Thursday. The business has a fifty day simple moving average of $5.85 and a 200 day simple moving average of $6.06. AGF Management has a 1 year low of $4.26 and a 1 year high of $6.95.

About AGF Management

AGF Management Ltd. is a diversified global asset management firm. It offers investment solutions to a wide range of clients, from individual investors and financial advisors to institutions, including pension plans, corporate plans, sovereign wealth funds, endowments, and foundations. The firm provides investment management with operations and investments in North America, Europe, and Asia.

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