CIBC reinstated coverage of Alamos Gold with an Outperformer rating and price target of C$38, up from C$25. The company’s acquisition of Argonaut Gold is accretive to all financial metrics, the analyst tells investors in a research note. The firm says the deal allows Alamos to integrate the adjacent assets of Island Gold and Magino.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AGI:
- Alamos Gold Enhances Market Position and Future Cash Flow
- Alamos Gold Eliminates Majority of Argonaut Gold Hedge Book Providing Increased Exposure to Higher Gold Prices
- Alamos Gold Completes Argonaut Acquisition
- Alamos Gold Announces Closing of Argonaut Gold Acquisition
- Alamos Gold price target raised to $21 from $20 at Jefferies