BMO Capital Markets maintained its outperform rating on the shares of Alamos Gold (AGI.TO) and its C$48.00 price target following a site visit to the company's Island gold district and a new life of mine plan for the property.
"We attended a site visit where the development of the Phase 3+ Expansion showed well, especially the shaft's progress. In addition, management highlighted their continued commitment to cost reduction, through many initiatives on site. Prior to the site visit, AGI released the Island Gold District Life of Mine plan which positively impacted our estimates as we now model the mine per the mine plan. This report set a base case for the District, where upside potential remains. We maintain our Outperform rating and target price of C$48.00," analyst Brian Quast wrote.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 34.94, Change: -0.74, Percent Change: -2.07
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