Alamos Gold Inc. (TSX:AGI; NYSE:AGI) has extended its share‑repurchase program by renewing its Normal Course Issuer Bid (NCIB). The new bid authorizes the company to purchase and cancel up to 18,580,120 Class A common shares over a twelve‑month period that begins on December 24, 2025 and ends on December 23, 2026. The program allows purchases at the prevailing market price on the TSX, alternative Canadian trading systems, and the New York Stock Exchange, with a daily maximum of 296,678 shares outside of block‑purchase exceptions.
The renewal follows a prior NCIB that ran from December 24, 2024 to December 23, 2025. During that period Alamos repurchased and cancelled 1,326,929 shares for C$54.4 million, averaging C$40.97 per share. The company’s Q3 2025 financial results—record free cash flow of $130 million and revenue of $462.3 million—provided the liquidity foundation for the new buyback. Management highlighted that the strong cash position, bolstered by the sale of Turkish projects for $470 million, gives the company flexibility to return capital to shareholders while maintaining a robust balance sheet.
Management stated that the share price is trading below the company’s intrinsic value, and that the renewed buyback signals confidence in future upside. The program is part of Alamos’ broader capital‑allocation strategy, which includes disciplined growth at Island Gold Phase 3+ and a focus on low‑cost, high‑return production. By reducing the outstanding share count, the company aims to lift earnings per share and enhance shareholder value, while also providing a buffer against potential market volatility.
Following the announcement, analysts across the sector raised their price targets and upgraded their outlooks. Jefferies, RBC Capital, and Desjardins all increased their targets, citing the company’s improving margins and strong free‑cash‑flow trajectory. The market reaction was driven largely by the combination of a record Q3 cash flow, the strategic timing of the buyback, and the positive sentiment from analysts who view the program as a sign of management’s confidence in the company’s valuation.
The new NCIB is expected to have a measurable impact on key financial metrics. By canceling shares, Alamos will reduce its diluted share count, which should lift earnings per share and return on equity. The program also provides a mechanism to deploy excess cash in a tax‑efficient manner, potentially improving the company’s cost of capital. Overall, the renewal reinforces Alamos’ commitment to shareholder returns while maintaining a strong focus on operational execution and growth.
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