Alamos Gold (AGI) PT Raised to $18 at RBC Capital

RBC Capital analyst Josh Wolfson raised the price target on Alamos Gold (NYSE: AGI) to $18.00 (from $16.00) while maintaining a Outperform rating.

The analyst comments "We have updated our AGI valuation and estimates assuming the successful close of the Argonaut acquisition (announced 27 March). We continue to see the transaction as strongly accretive, strategically sound (with little risk of an interloper emerging), and adding to the forecasted organic growth across the portfolio over the next 4 years. Baking Magino into our Island Gold model (~50% of total NAV) leads to ~15% higher NAVPS/sFCF, driving our target price increase to $18.00 (was $16.00)."

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