Alamos Gold price target lowered to C$82 from C$90 at CIBC

CIBC analyst Cosmos Chiu lowered the firm’s price target on Alamos Gold (AGI) to C$82 from C$90 and keeps an Outperformer rating on the shares. The company disclosed that the Young-Davidson mine has been impacted by two seismic events in the past week, with one occurring at an active mining front, the analyst tells investors in a research note. The firm cut its production estimates but says that while the news is disappointing, Young-Davidson is no longer the key driver of value for Alamos with the emergence of the Island Gold District.

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