Core Insights - AngloGold Ashanti PLC (AU) and Alamos Gold Inc. (AGI) are benefiting from record-high gold prices, currently trading at nearly $4,900 per ounce, with a year-over-year increase of 76.4% [1] Group 1: AngloGold Ashanti (AU) - AU has operations in multiple countries including Argentina, Australia, and Ghana, and expanded its asset base by acquiring Augusta Gold Corp. in October 2025 [3] - The acquisition of Centamin in November 2024 added the Sukari mine, which has the potential to produce 500,000 ounces annually, contributing 135,000 ounces in Q3 2025 [4] - AU reported a 17% year-over-year increase in gold production to 768,000 ounces in Q3 2025, with adjusted EBITDA rising 109% to $1.56 billion and gold revenues increasing 61.9% to $2.37 billion [5] - The company expects gold production of 2.9-3.225 million ounces for 2025, indicating a year-over-year growth of 9-21% [6] - Operating costs have risen, with total cash costs per ounce increasing 5% to $1,225 and all-in-sustaining costs (AISC) up 6% to $1,720 [7] - AU generated a record $920 million in free cash flow in Q3 2025, a 141% year-over-year increase, and ended the quarter with $3.9 billion in liquidity [8] - The company is focused on its Full Asset Potential program to mitigate inflationary impacts and is streamlining operations, including selling higher-cost assets [9] - Obuasi mine remains a significant contributor to AU's production strategy, with expectations of delivering 400,000 ounces annually by 2028 [10] Group 2: Alamos Gold Inc. (AGI) - AGI, based in Canada, acquired Argonaut Gold in July 2024, gaining access to the Magino mine adjacent to its Island Gold mine [12] - The company is advancing its Island Gold Phase 3+ Expansion, expected to double mill throughput to 2,400 tons per day by the second half of 2026 [13] - AGI reported a 3.8% year-over-year production decline in 2025, attributed to lower output from the Island Gold District and Young-Davidson [14] - The cash position for AGI was $623 million in 2025, a 91% year-over-year increase, with $50 million of debt repaid in Q4 [15] Group 3: Financial Estimates and Comparisons - The Zacks Consensus Estimate for AU's 2025 earnings is $5.51 per share, reflecting a year-over-year increase of 149.3%, with estimates for 2026 at $7.81, indicating a 41.8% rise [16] - For AGI, the 2025 earnings estimate is $1.47 per share, showing an 83.7% year-over-year jump, with 2026 estimates at $2.23, implying growth of 51.6% [17] - AU's stock has increased 301.4% over the past year, while AGI's stock has risen 105.9% [18] - AGI is trading at a forward earnings multiple of 18.11X, while AU is at 13.67X, both higher than their five-year medians [20] - AU is viewed as a more compelling investment choice due to stronger price performance and cheaper valuation compared to AGI [22][23]

Core Viewpoint - Alamos Gold Inc. is advancing its exploration efforts in the Mulatos District, with significant new drilling results indicating the extension of high-grade gold mineralization at Puerto Del Aire (PDA) and new discoveries at Cerro Pelon and Halcon, which are expected to enhance the company's mineral resources and production potential by mid-2027 [1][2][3]. Exploration and Drilling Results - Ongoing surface exploration drilling has successfully extended high-grade gold mineralization beyond existing Mineral Reserves at PDA and Mineral Resources at Cerro Pelon [1][5]. - Significant sulphide-hosted gold mineralization has been intersected at Halcon, representing a new area of focus for potential higher-grade ore [1][6]. - The 2025 exploration program involved a total expenditure of $20 million, with 56,117 meters drilled across 170 holes, including 21,394 meters focused on Cerro Pelon [8][10]. Mineral Resource Growth - The company has defined over one million ounces of Mineral Reserves at PDA and an initial Mineral Resource at Cerro Pelon, with ongoing success expected to drive further resource growth [3][10]. - Cerro Pelon has an initial Measured and Indicated Mineral Resource totaling 104,000 ounces, grading 4.49 g/t Au, and remains open in multiple directions for further expansion [10][11]. Project Development Timeline - The PDA project is on track for initial production by mid-2027, with construction activities ramping up following the receipt of an amended environmental permit [2][9]. - The planned addition of a mill to process higher-grade sulphide ore from PDA is anticipated to create new growth opportunities within the Mulatos District [2][10]. Significant Drilling Highlights - New drilling results at PDA include notable intercepts such as 5.60 g/t Au over 23.85 m and 12.95 g/t Au over 4.25 m, indicating robust mineralization [5][19]. - At Halcon, significant intercepts include 3.04 g/t Au over 47.60 m, showcasing the potential for additional high-grade sulphide mineralization [22][19].

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Core Insights - The article emphasizes a versatile investment strategy suitable for various investor profiles, including dividend investors, value seekers, and those looking for growth opportunities [1] Group 1 - The author, Alberto, possesses a Master's degree in Business Economics and has a strong managerial and economic background [1] - The investment strategy described is applicable across all sectors and types of stocks, indicating its broad relevance [1]

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Core Viewpoint - Alamos Gold Inc. is set to release its fourth quarter and year-end 2025 financial results on February 18, 2026, with a conference call scheduled for February 19, 2026, to discuss these results [1]. Company Overview - Alamos Gold Inc. is a Canadian-based intermediate gold producer with diversified production from three operations in North America, including the Island Gold District and Young-Davidson mine in Ontario, Canada, and the Mulatos District in Sonora, Mexico [5]. - The company has a strong portfolio of growth projects, such as the Phase 3+ Expansion at Island Gold and the Lynn Lake project in Manitoba, Canada [5]. - Alamos employs over 2,400 people and is committed to sustainable development [5]. - The company's shares are traded on the TSX and NYSE under the symbol "AGI" [5]. Conference Call Details - The conference call will be held on February 19, 2026, at 10:00 am ET, and participants can join via webcast or phone [1][2][3]. - A playback of the call will be available until March 21, 2026 [4].

Core Viewpoint - Alamos Gold Inc. reported its fourth quarter and annual production results for 2025, highlighting operational challenges that led to production below guidance, but achieved record financial performance and significant cash flow generation [2][4][28]. Production Results - Fourth quarter gold production totaled 141,500 ounces, consistent with the third quarter but below guidance due to lower production from Canadian operations impacted by severe winter weather and operational challenges [2][4]. - For the full year 2025, total gold production reached 545,400 ounces, which was below the revised guidance of 560,000 to 580,000 ounces [4][28]. - The Island Gold District produced 60,000 ounces in Q4 2025, down from 66,800 ounces in Q3 2025, and 250,400 ounces for the full year, slightly below the low-end of revised guidance [4][7]. Financial Performance - The company achieved record quarterly revenues of $568 million from the sale of 142,149 ounces of gold at an average realized price of $3,997 per ounce [4][28]. - Full year sales totaled 531,230 ounces of gold at an average realized price of $3,372 per ounce, generating record annual revenues of $1.8 billion [4][28]. - Cash and cash equivalents increased to $623 million by the end of 2025, up from $463 million at the end of Q3 2025, reflecting strong free cash flow generation [28][33]. Debt and Shareholder Returns - The company reduced its outstanding debt to $200 million, having repaid $50 million during Q4 2025 [28][29]. - A record $81 million was returned to shareholders in 2025 through dividends and share buybacks, including the repurchase of 928,729 shares at a cost of $28.8 million in Q4 [30][31]. Operational Challenges - Mining and processing rates were lower than expected due to severe winter weather in late December, which affected access to sites and operational efficiency [2][4][8]. - The Island Gold District faced challenges with underground mining rates averaging 1,157 tonnes per day in Q4, impacted by rehabilitation work and weather-related downtime [8][10]. Future Outlook - The company expects substantial operational improvements in 2026, with a clear path to achieving one million ounces of annual production by the end of the decade [3][9]. - The Island Gold District Expansion Study is set to be outlined in February 2026, which will provide updated three-year production and operating guidance [1][9].

Core Viewpoint - Alamos Gold Inc. (NYSE:AGI) is recognized as one of the best precious metal stocks to buy following the U.S. Venezuela Mission, with a recent share repurchase program and positive analyst outlooks indicating strong potential for growth in the gold sector [1][3]. Group 1: Share Repurchase Program - The Toronto Stock Exchange (TSX) has accepted Alamos Gold's notice to renew a Normal Course Issue Bid, allowing the company to repurchase 18.58 million Class A common shares over the next 12 months [1]. - This share repurchase program represents nearly 5% of Alamos Gold's public float and approximately 4.4% of its total shares outstanding [2]. - The repurchase will occur through the TSX, other Canadian trading networks, and the NYSE at prevailing market prices, with a daily limit of 296,678 shares on the TSX [2]. Group 2: Analyst Outlook - Jefferies has raised the price target for Alamos Gold from $44 to $49 while maintaining a Buy rating, reflecting a bullish sentiment towards gold equities due to attractive valuations [3]. - The analyst projects that gold companies, including Alamos Gold, will see increased margins and generate more free cash flow (FCF) in 2026 compared to 2025, especially if gold prices remain elevated [3]. - Jefferies views Alamos Gold as a catch-up opportunity, highlighting its high-quality portfolio among mid-cap gold miners [4].

Company Overview - Alamos Gold (AGI) is a Canadian gold company valued at $17.6 billion, operating three mines, two in Canada and one in Mexico [1] Market Reaction - Following the news of Federal Reserve Chair Jerome Powell being under criminal investigation related to a $2.5 billion renovation, the U.S. Dollar Index fell nearly 0.3%, leading to a surge in safe-haven investments like gold, which reached new record highs [2] - Alamos Gold and other gold miners are expected to benefit from the rising gold prices, which are influenced by central bank demand and geopolitical turmoil [3] Stock Performance - Alamos Gold's stock has gained over 118% in the past 52 weeks and is currently trading at an all-time high [6] - The stock has experienced a 23.21% increase since a new "Buy" signal was issued on November 25, indicating strong technical momentum [4][6] - Barchart maintains a 100% "Buy" opinion on Alamos Gold, reflecting positive technical indicators [6]

Core Insights - Gold miners are poised for a significant earnings season due to record bullion prices outpacing stable operating costs, with the strongest annual performance since 1979 expected to drive headlines as earnings reports begin in mid-February [1] - Analysts are forecasting earnings based on a gold price of $3,200 per ounce, which veteran investor Rick Rule believes underestimates the potential earnings strength of miners, as Wall Street strategists discuss prices as high as $5,000 to $6,000 per ounce [2] Earnings Timing - American-listed gold miners have up to 60 days post-year-end to report fourth-quarter results, while Canadian-listed companies have up to 90 days, leading to a concentration of earnings releases between mid-February and mid-March [3] Profitability Dynamics - The relationship between surging gold prices and relatively fixed all-in sustaining costs (AISC) results in dramatically expanded profit margins, as AISC rises only gradually with inflation while gold prices are highly volatile [4] - In Q4, gold averaged approximately $4,150 per ounce, a 56% year-on-year increase, while industry AISC rose only by a mid-single-digit percentage, leading to a significant increase in unit profitability [5] Mid-Tier Producer Example - Mid-tier producers like Alamos Gold Inc. are expected to see substantial revenue increases, with an estimated fourth-quarter production of about 167,000 ounces and a realized gold price near $4,100 per ounce, resulting in a margin per ounce increase of over 115% compared to Q4 2024 [6] - Alamos' total AISC margin for the quarter could rise to approximately $467 million, up from about $182 million a year earlier, with potential fourth-quarter free cash flow estimated at around $137 million compared to $53.5 million previously, driven largely by gold price leverage [7] Market Conditions - Despite anticipated volatility, macro conditions remain favorable for gold, with HSBC raising its gold price target to $5,050 for the first half of 2026, while warning of high volatility and citing geopolitical risk, central bank demand, and ETF inflows as supportive factors [8]