Bank of America, Scotiabank Lift Alamos Gold Targets to $48 and $60
Bank of America lifted its price target on Alamos Gold to $48 from $47 after incorporating higher production growth forecasts and cost improvements following the firm’s investor update. Scotiabank increased its target to $60 from $55, highlighting asset quality and forecasting 46% production growth by 2028 backed by cost declines.
1. Bank of America Raises Target to $48
On February 9, Bank of America raised its price target for Alamos Gold to $48 from $47 while maintaining a Buy rating. The adjustment reflects refinements to its financial model after the company’s investor update, incorporating revised assumptions on production growth and cost trajectories.
2. Scotiabank Increases Target to $60
On February 6, Scotiabank lifted its price target to $60 from $55 and reiterated an Outperform rating. The bank cited the company’s high-quality asset base and clear visibility into its development projects as justification for the increase.
3. Operational Outlook and Growth Path
Alamos Gold reaffirmed a path to roughly one million ounces of annual production by 2030 via the Island Gold District expansion and Lynn Lake startup. Despite trimming 2026 guidance, management expects output to rise 13% in 2027 and 15% in 2028, delivering 46% growth versus 2025 levels as costs decline in the latter half of 2026.