TD Securities lowered its price target on Alamos Gold (AGI.TO) to $61 from $78 on Monday.
Analyst Steven Green maintained a Buy rating on shares of the Canadian mining company.
On June 18, Alamos reduced its Q2 production guidance after saying seismic events damaged infrastructure at its Young-Davidson operation.
"The update is disappointing and follows a guidance miss in 2025, we believe it is now baked in the stock and Island is now ramping up," Green said in a note.
"The 19% decline in share price has reduced market cap by over $2.3 billion, which is ~75% of our YD NAV, so we believe this is more than baked in now," Green said.
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Price: $43.10, Change: $+1.18, Percent Change: +2.81%