RBC Capital analyst Michael Siperco upgraded Alamos Gold to Outperform from Sector Perform with a price target of $16, up from $12. Alamos is getting closer to growth with catalysts coming heading into 2024, including the development plan for the PDA project at Mulatos, ongoing Island Gold expansion milestones, and Lynn Lake potential beyond that, the analyst tells investors in a research note. The firm expects a positive update from Mulatos in Q1.
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