BMO raises PT on Alamos Gold over Turkish asset sale; shares up

Alamos Gold

16/09/2025 13:07

** U.S.-listed shares of Canadian gold miner Alamos Gold AGI.N, AGI.TO up by ~1% at $33.77 premarket

** Co on Monday reached a deal to divest its Turkish assets, most notably Kirazli, for total cash proceeds of $470 million

** Brokerage BMO Capital Markets raises price target on the Canadian stock of the miner to C$51 from C$48, maintains "outperform" rating

        ** The new price target represents a ~12% upside to the stock's Canadian last close

** Brokerage says sale of Turkish assets supports "the development of its internal growth pipeline and reduce existing debt obligations"

** As of last close, stock up ~81.3% YTD

 (Reporting by Dharna Bafna)

 ((Dharna.bafna@thomsonreuters.com))