News about Alamos Gold

Alamos Gold produced 119,000 ounces of gold in Q3 2026 and said it remains on track for its revised annual guidance, with fourth-quarter production expected to rise 26% as mining rates and grades improve at Island Gold. The company generated $76 million in free cash flow and ended the quarter with $397 million in net cash, while returning $22 million to shareholders and using $86 million to repurchase legacy Argonaut Gold hedge contracts. The Phase 3+ shaft expansion at Island Gold has been delayed about one quarter to mid-2027 after ground-support issues, and its total cost is now expected to be 5% above the previous $835 million budget. Underground mining rates are expected to exceed 2,000 tons per day in the first half of 2027, with the ramp-up to 2,400 tons per day now expected in the second half.

Alamos Gold (AGI) reported third-quarter earnings of $165.6 million, or 39 cents per share, and adjusted earnings of 43 cents per share, in line with the average estimate of four analysts. Revenue for the period was $510.4 million. Shares are down 18% since the start of the year and hit $31.52 in the final minutes of trading on Wednesday.

Alamos Gold targets roughly one million ounces of annual gold production by 2030, almost double its current base. In Q2 2026, revenue rose 36% year over year to $594.1 million and net earnings reached $270.4 million, helped by an average realized gold price of $4,504 per ounce (up about 40%) even though gold sales slipped to 130,834 ounces. All-in sustaining costs, however, rose to $1,728 per ounce from $1,481. The company expects these costs to fall toward $1,250 per ounce by 2028, from about $1,825 in 2025, as expansions at Island Gold, Lynn Lake and PDA lift throughput and productivity. Construction spending comes first, though, and mine disruptions or grade variability could delay the benefits.