Alamos Gold shares up 5.22% intraday after renewing normal course issuer bid to repurchase 5% of public float.

Alamos Gold surged 5.22% intraday following the announcement of a renewed Normal Course Issuer Bid (NCIB) authorizing up to 5% of its public float for repurchase, signaling management’s confidence in undervalued shares. The buyback, effective through December 2026, aims to boost shareholder value by reducing the share count and enhancing earnings per share. Concurrently, analyst upgrades from Jefferies and RBC, which raised price targets to $49 and $50 respectively, reinforced optimism about Alamos’ improving margins and free cash flow. Desjardins initiated a Buy rating with a $64 target, further fueling demand. These actions collectively drove the sharp intraday rally, reflecting strong institutional confidence in the company’s strategic and operational performance.