Home / Business and Economy / Jefferies Boosts Alamos Gold Target to $49
Jefferies Boosts Alamos Gold Target to $49
19 Dec, 2025
Summary
- Jefferies reiterated a Buy rating, raising Alamos Gold's target to $49.
- Alamos Gold achieved record revenue and free cash flow in Q3 2025.
- Island Gold expansion continues, but Lynn Lake project faces delays.
Jefferies analyst Fahad Tariq has increased the price target for Alamos Gold to $49 from $44, maintaining a Buy rating. This adjustment is part of a 2026 preview favoring gold equities for their anticipated margin expansion and free cash flow growth. The firm notes that if gold prices remain high, investor focus will likely shift from valuation to growth opportunities.
Alamos Gold recently reported impressive Q3 2025 financial results, with record revenue reaching $462 million and free cash flow hitting $130 million, a significant 54% increase from the previous quarter. The company sold approximately 136,500 ounces of gold at an average realized price of $3,359 per ounce during this period.
Regarding project development, the Phase 3 expansion at Island Gold is on track for completion in the second half of 2026. However, the Lynn Lake project's initial production has been postponed to early 2029 due to forest fires in northern Manitoba, and its capital expenditure estimates are expected to rise by approximately 15% due to inflation.
