Alamos Gold price target lowered to C$51 from C$52 at Canaccord

Canaccord lowered the firm’s price target on Alamos Gold (AGI) to C$51 from C$52 and keeps a Buy rating on the shares. The firm lowered the target following Q1 results where Alamos reported an atypical, weaker than expected quarter primarily driven by higher costs with equipment availability issues at Young-Davidson (YD), ramp-up challenges at Magino, and 6% fewer ounces sold than produced.