Alamos Gold Reports Third-Quarter Results Amid Forecast for 5,000 Tonnes a Day at Young-Davidson
Key Facts
Alamos Gold reported its third-quarter 2026 financial results after the market closed on October 28 and scheduled a call to discuss them the following day, according to the company. The results come amid the ongoing impact of operational disruptions at the Young-Davidson mine, after the company cut its annual production forecast and raised both cost ranges. The company had linked the production guidance cut to lower mining rates and expected grades at the mine following a seismic event. It also said it expects average mining of about 5,000 tonnes a day in the second half of 2026. Management is scheduled to discuss the results on a call beginning at 10:00 a.m. Eastern Time on October 29.
Against the backdrop of its operating performance, Alamos produced 130,600 ounces of gold in the second quarter, up 5% from the first quarter, and said it met its revised quarterly guidance. Gold sales in the same period totaled 130,834 ounces, according to the company’s disclosure. The production and sales figures differ: the former represents what was produced during the quarter, while the latter reflects gold sold. The company said second-quarter production met revised guidance, despite expecting a temporary decline in Young-Davidson production in the second half. It added that lower mining rates at the mine would raise costs during that period.
Financially, the company recorded operating revenues of $594.1 million in the second quarter of 2026, compared with $438.2 million in the second quarter of 2025. Net earnings were $270.4 million, up from $159.4 million in the same period a year earlier. This year-on-year comparison puts second-quarter performance in context ahead of the third-quarter results the company reported on October 28. It also shows that the prior-period figures included increases in revenue and earnings compared with the second quarter of 2025. Detailed third-quarter results were not included in the information available here.
By mine, the Island Gold operation recorded record production of 67,500 ounces in the second quarter of 2026, according to the company. By contrast, the company focused on the impact of lower rates and grades at Young-Davidson on its annual guidance. It had reported two seismic events in the week ended June 12, which damaged infrastructure and restricted access to two higher-grade areas, with no injuries reported. The company linked the guidance cut to those effects and the timing of ounces recovered at La Yaqui Grande. These factors illustrate the differing production conditions across the company’s sites during the year.
The growth plan includes initial production from the Lynn Lake project in the first half of 2029, with the company expecting the project to add to production that year. The plan targets increasing production to about 1 million ounces a year by 2030. This trajectory follows guidance changes tied to lower expected production at Young-Davidson in 2026. In trading, the company’s shares, AGI, closed at $31.18 on October 27, according to EL7 data. The results call is scheduled for October 29 at 10:00 a.m. Eastern Time.