Alamos Gold upgraded to Outperform from Sector Perform at National Bank

National Bank analyst Mike Parkin upgraded Alamos Gold (AGI) to Outperform from Sector Perform with a C$33 price target Alamos is well positioned to meet its FY24 guidance, and the firm expects further share price benefits from several material catalysts due out over the next few months, the analyst tells investors in a research note. The stock’s outperformance has been driven by a combination of the company’s strong track record of hitting guidance and positive updates which have seen reserves being more than replaced for five consecutive years, and the firm expects this trend to continue into 2025, with Alamos well positioned to hit their production guidance of 550-590koz, National Bank added.