Stifel Canada on Thursday maintained its buy rating on the shares of Alamos Gold (AGI.TO, AGI) and its C$65.00 price target after the company released an update on its Island Gold operations in Ontario.

"Alamos delivered an impressive Island Gold District (IGD) Expansion Case with attractive project economics at modest capital requirements. Compared to the Base Case LOM Plan delivered in June 2025, the IGD Expansion Case incorporates a +30% increase in mineral reserves and a 60% expansion of the Magino mill to 20,000tpd supporting increased processing rates of 3,000tpd of high-grade underground ore at Island Gold, and 17,000tpd from the Magino open pit. While those metrics are in-line with our expectations, lower capex of $704Mln (vs. our $800Mln including a portion of Phase 3+ Expansion capex) and lower-than-expected average AISC over the first 15yrs of $1,032/oz (vs. our $1,314/oz) yields IGD Expansion Case NPV5% of $8.16Bln at $3,200/oz vs. our $7.17Bln based on preliminary assumptions on the expansion potential at 20,000tpd, or 13.9% accretive to our mine NPV and $2.36/share or 4.6% accretive to our corporate NAVPS," analyst Ralph Profiti 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: 52.25, Change: -3.15, Percent Change: -5.69