AGF Management B NV (AGF.B) Receives a Hold from RBC Capital

By Austin Angelo

AGF Management B NV (TSX: AGF.B), the Financial sector company, has received a rating update from a Wall Street analyst yesterday. Analyst Geoffrey Kwan from RBC Capital rated AGF Management B NV (TSX: AGF.B) a Hold, setting a C$7 price target.

According to TipRanks.com, Kwan is ranked #1797 out of 4879 analysts.

Currently, the analyst consensus on AGF Management B NV is a Hold with an average price target of C$7.50, representing a 27.1% upside. In a report released yesterday, BMO Capital also reiterated a Hold rating on the stock with a C$7 price target.

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Based on AGF Management B NV’s latest earnings release for the quarter ending May 31, the company reported a quarterly net profit of C$16.98 million. In comparison, last year the company had a net profit of C$12.33 million.

AGF Management Ltd. is a diversified global asset management firm, which engages in the retail, institutional, and alternative businesses. The firm provides investment management with operations and investments in North America, Europe, and Asia. Its products include a diversified mutual funds, mutual fund wrap programs, and pooled funds.

The company’s shares closed on Friday at C$5.90, close to its 52-week low of C$5.81.