-- Stifel Canada on Thursday maintained its buy rating on the shares of Alamos Gold (AGI.TO, AGI) and its C$80.00 price target after the company reported first-quarter results.
"Alamos reported Q1/26 adjusted EPS of $0.55 vs. our $0.53 (in-line vs. consensus of $0.55) and adjusted EBITDA of $383.2Mln vs. our $401Mln (consensus $413Mln) on Q1/26 gold production of 123.9Koz (within the guidance range of 120-135Koz). Q1/26 cash cost of $1,230/oz and AISC of $1,862/oz were above the top end of H1/26 guidance ($1,200/z and $1,725/oz, respectively) as previously signaled by management with an expected decrease of ~5% QoQ and further improvements in H2/26. Q1/26 FCF of $101.7Mln implies FCF/GEO ex-WC of $1,260/GEO (+$130/GEO or +11.5% QoQ vs. +$722/oz or +17.4% increase in gold price). Alamos exits Q1/26 with $659.5Mln of cash (+$36Mln QoQ) and net cash of $459.5Mln after eliminating ~1/3 of legacy Argonaut hedges (15Koz at $1,821/oz) for $42.7Mln. FY26 guidance reaffirmed, including Q2/26 production +17-25% QoQ with all three operations contributing and stronger H2/26 gold production expected," analyst Ralph Profiti wrote.
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Price: $54.36, Change: $-1.57, Percent Change: -2.81%