Alamos Gold shares surge 6.24% after-hours as CIBC and Scotiabank raise price targets to C$80 and $60, respectively, with outperform ratings.

Alamos Gold surged 6.24% in after-hours trading following analyst upgrades from CIBC and Scotiabank. CIBC raised its price target to C$80 with an "Outperformer" rating, while Scotiabank increased its target to $60 from $55, maintaining a "Sector Outperform" rating. These upgrades signaled improved earnings expectations and investor confidence, directly aligning with the stock’s upward movement. Other news, such as institutional share transactions and a lower price target from Haywood, were either neutral or contradictory to the price action and thus deemed less impactful.