Alamos Gold Maintained at Buy at Stifel Canada Following Island Gold Expansion Study; Price Target Kept at C$65.00

MT Newswires Live
Feb 05

Stifel Canada on Wednesday 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 expansion study for its Island Gold District operations in Ontario.

"Underground and surface drilling at Island Gold continues to extend high-grade gold mineralization within the deposit, as well as within several hanging wall and footwall structures, and delineation drilling continues to support conversion of mineral resources into reserves ahead of the Island Gold District Expansion Study, plus offers additional sources of high-grade regional targets for long-life mine optionality. Island Gold Main Zone drilling has extended mineralization within the main C/E1E zones and parallel NS2, NS3, NS4, and NTH4 hanging wall and footwall structures, which together with Main Zone, currently define the majority of Mineral Reserves and Resources. We view the Island Gold District Expansion Study as key driver for Alamos' growth to approx. 1Moz in 2031 (incl Lynn Lake). Alamos currently trades at 23% discount to the senior peer group on P/NAV (0.89x v. 1.16x) and a 14% discount of FY28 EV/EBITDA (6.3x vs. 7.3x)," 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: 54.88, Change: +2.65, Percent Change: +5.07

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