Alamos Gold Inc. (TSX:AGI; NYSE:AGI) has filed a Notice of Intention to conduct a Normal Course Issuer Bid (NCIB) that authorises the repurchase of up to 18,580,120 Class A common shares, representing roughly 5 % of the public float and 4.4 % of total issued shares as of December 10, 2025. The program will run for twelve months, beginning December 24, 2025 and concluding December 23, 2026, and all shares bought will be cancelled to reduce the outstanding share count.
The buy‑back is part of Alamos Gold’s broader capital‑allocation strategy, which also includes dividend payments and reinvestment in growth projects such as the Island Gold Phase 3+ expansion and the Lynn Lake development. Management has stated that the current share price undervalues the company’s intrinsic value, and the program is intended to return excess cash to shareholders while tightening the capital structure.
Alamos Gold’s recent financial performance has been strong, with record free‑cash‑flow generation and robust liquidity. However, the company has faced operational headwinds, including unplanned downtime at the Magino mill and a seismic event at the Island Gold mine in October 2025, which prompted a downward revision of 2025 production guidance. The share repurchase signals confidence that the company can sustain its cash‑flow generation and maintain profitability despite these challenges.
The TSX approval of the NCIB was welcomed by investors, underscoring confidence in Alamos Gold’s strategy to enhance shareholder value. The program’s cancellation of repurchased shares will likely lift earnings per share and improve shareholder equity, reinforcing the company’s commitment to delivering long‑term value to investors.
The announcement reflects Alamos Gold’s focus on disciplined capital management and its belief that the market has not fully priced in the company’s operational strengths and growth prospects. By reducing the share count, the company aims to increase the value of each remaining share while preserving the financial flexibility needed to support its ongoing projects and weather short‑term operational disruptions.
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