Alamos Gold Announces Renewal of Normal Course Issuer Bid

Rhea-AI Summary

Alamos Gold (TSX:AGI; NYSE:AGI) filed and received TSX acceptance of a Normal Course Issuer Bid to purchase for cancellation up to 18,580,120 Class A common shares, equal to 5% of its public float as of December 10, 2025 (public float 371,602,394; total shares outstanding 419,834,202).

Repurchases may occur from Dec 24, 2025 through Dec 23, 2026, effected on TSX, Canadian alternative marketplaces and NYSE; daily TSX limit is 296,678 shares (excluding block exceptions). All repurchased shares will be cancelled. Under the prior NCIB (Dec 24, 2024–Dec 23, 2025) Alamos bought and cancelled 1,326,929 shares for a total of C$54.4M at a weighted average price of C$40.97.

Positive

• Authorized repurchase of 18,580,120 shares (5% of public float)
• Previous repurchases: 1,326,929 shares cancelled for C$54.4M
• Repurchases may increase proportionate ownership for remaining shareholders

Negative

• Daily TSX purchase limit of 296,678 shares could slow execution
• Prior repurchases used C$54.4M in cash (weighted avg price C$40.97)

Key Figures

NCIB maximum shares 18,580,120 shares Maximum Class A shares purchasable for cancellation under new NCIB (Dec 24, 2025–Dec 23, 2026)

Portion of public float 5% Share of public float represented by new NCIB limit as of Dec 10, 2025

Portion of total shares 4.4% Share of total issued and outstanding shares represented by NCIB limit

Public float 371,602,394 shares Public float of Class A Common Shares as at Dec 10, 2025

Total shares outstanding 419,834,202 shares Total issued and outstanding Class A Common Shares as at Dec 10, 2025

Max daily TSX purchases 296,678 shares Maximum daily repurchases on TSX, excluding block purchase exceptions

Shares repurchased (prior NCIB) 1,326,929 shares Shares bought and cancelled under NCIB since Dec 24, 2024

Total repurchase cost C$54.4 million Cost of 1,326,929 shares at weighted average price of C$40.97

Market Reality Check

$40.49 Last Close

Volume Volume 7,190,083 is 2.79x the 20-day average of 2,580,961, indicating elevated trading activity ahead of the buyback renewal. high

Technical Shares traded above the 200-day MA, with price at 38.48 versus the 200-day MA of 29.35, indicating a pre-existing uptrend.

Peers on Argus 1 Up

Gold peers showed broad strength, with Pan American Silver up 3.02%, Kinross up 2.36%, AngloGold Ashanti up 1.46% and Coeur Mining up 5.98%, while AGI gained 2.07%. However, momentum scanner data flagged only CDE, so the move appeared more stock-specific than a coordinated sector surge.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Nov 20	Dividend and buybacks	Positive	-4.8%	Quarterly dividend declaration and NCIB repurchase update for 2025 capital returns.
Oct 29	Q3 2025 earnings	Positive	+1.1%	Record free cash flow, solid revenues and revised 2025 production guidance.
Oct 27	Asset sale – Turkey	Positive	-3.2%	Completed $470 million sale of Turkish development projects with staged payments.
Oct 22	Asset sale – Quartz	Positive	+0.4%	Closed sale of Quartz Mountain option for up to $21 million plus Q-Gold equity.
Oct 02	Earnings call notice	Neutral	-1.2%	Notification of timing and access details for Q3 2025 results and call.

Pattern Detected

Recent positive capital return and asset monetization news has produced mixed price reactions, with several instances of negative moves following seemingly favorable updates.

Recent Company History

This announcement continues a series of capital return and portfolio optimization actions by Alamos Gold. On November 20, 2025, the company declared a quarterly dividend of US$0.025 per share and highlighted buybacks totaling 1,326,929 shares and $81 million returned to shareholders in 2025. In late October, Alamos reported Q3 2025 results with record free cash flow of $130.3 million and revenues of $462.3 million, alongside revised production guidance. The company also closed asset sales of Turkish projects for $470 million and the Quartz Mountain option for up to $21 million, reinforcing a focus on capital discipline that frames the renewed buyback.

Market Pulse Summary

This announcement renewed Alamos Gold’s Normal Course Issuer Bid, permitting repurchase of up to 18,580,120 shares, or 5% of the 371,602,394-share public float, over the next year. It follows a period of active capital returns, including dividends and prior buybacks totaling 1,326,929 shares at a cost of C$54.4 million. With the stock trading above its 29.35 200-day MA and close to its 39.435 52-week high, investors may focus on execution of the program and how it interacts with ongoing cash generation and asset sales.

Key Terms

normal course issuer bid regulatory

"a Notice of Intention to make a Normal Course Issuer Bid permitting Alamos to purchase"

A Normal Course Issuer Bid is when a company buys back its own shares from the stock market over time. This usually shows that the company believes its stock is undervalued and wants to support its price, which can be important for investors to watch.

public float financial

"representing 5% of the Company’s public float of the Common Shares"

Public float is the total number of a company's shares that are available for trading by the general public. It excludes shares held by company insiders or large stakeholders who are unlikely to sell them easily. This figure helps investors understand how much of the company's stock is actively available, which can influence its liquidity and how easily its price might change.

class a common shares financial

"up to 18,580,120 Class A Common Shares (“Common Shares”)"

A Class A common share is a specific type of ordinary company share that represents an ownership stake and usually carries particular voting rights or payout priorities compared with other share classes. For investors it matters because those differences affect how much influence you have over company decisions, how dividends or liquidation proceeds might be distributed, and how easily the shares trade — like choosing between car models where one has extra features (more control) and another focuses on price or availability (liquidity).

alternative canadian trading systems technical

"through the facilities of the TSX, alternative Canadian trading systems and/or"

Alternative Canadian trading systems are private, regulated electronic marketplaces where buyers and sellers trade Canadian stocks and other securities outside the main public exchanges; think of them as specialized matching apps for orders. They matter to investors because they can offer different fees, execution speeds and ways of finding counterparties, which affects prices, liquidity and the ability to buy or sell large positions. Regulators monitor these venues, but trade reporting and price discovery can differ from primary exchanges, so investors should be aware of where and how trades are executed.

prevailing market price financial

"The price for any repurchased Common Shares will be the prevailing market price"

The prevailing market price is the price at which a security is currently trading in the open market, reflecting the most recent consensus between buyers and sellers. Investors care because it signals what the market values the security at right now—like the price on a busy marketplace—and is used to make trading decisions, set execution prices, value holdings, and judge whether a proposed deal or transaction is fair.

weighted average price financial

"at a weighted average price paid per Common Share of C$40.97"

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

AI-generated analysis. Not financial advice.

All amounts are in United States dollars, unless otherwise stated.

TORONTO, Dec. 22, 2025 (GLOBE NEWSWIRE) -- Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the “Company”) today announced that it has filed with, and received acceptance from the Toronto Stock Exchange (“TSX”) of, a Notice of Intention to make a Normal Course Issuer Bid permitting Alamos to purchase for cancellation up to 18,580,120 Class A Common Shares (“Common Shares”), representing 5% of the Company’s public float of the Common Shares, outstanding as at December 10, 2025. This represents approximately 4.4% of the Company’s total issued and outstanding Common Shares, as at December 10, 2025. The Company’s public float was 371,602,394 Common Shares and total issued and outstanding Common Shares was 419,834,202 Common Shares.

Alamos may purchase Common Shares under the Normal Course Issuer Bid over the twelve-month period beginning December 24, 2025 and ending December 23, 2026. Any purchases made under the Normal Course Issuer Bid will be effected through the facilities of the TSX, alternative Canadian trading systems and/or the New York Stock Exchange. The maximum number of Common Shares that Alamos may purchase on the TSX on a daily basis, other than pursuant to block purchase exceptions, is 296,678 Common Shares.

The price for any repurchased Common Shares will be the prevailing market price at the time of the purchase. All Common Shares purchased by Alamos will be cancelled. Purchase and payment for the Common Shares will be made by Alamos in accordance with the requirements of the TSX and applicable securities laws.

A Normal Course Issuer Bid is being undertaken as the Company and its Board of Directors believe the price of its Common Shares from time to time to be not reflective of the underlying value of the Company. The Company believes it is advantageous to its shareholders to engage in repurchases of Common Shares, from time to time, when they are trading at prices which reflect a discount from their value by increasing the proportionate share of ownership of the Company to remaining shareholders. Under its previous Normal Course Issuer Bid which commenced on December 24, 2024 and will terminate on December 23, 2025, Alamos sought the purchase of up to 18,605,661 Common Shares and has purchased and cancelled 1,326,929 Common Shares of the Company in the open market through the facilities of the TSX and the New York Stock Exchange at a weighted average price paid per Common Share of C$40.97 for a total cost of C$54.4 million.

About Alamos

Alamos is a Canadian-based intermediate gold producer with diversified production from three operations in North America. This includes the Young-Davidson mine and Island Gold District in northern Ontario, Canada, and the Mulatos District in Sonora State, Mexico. Additionally, the Company has a strong portfolio of growth projects, including the Phase 3+ Expansion at Island Gold, and the Lynn Lake project in Manitoba, Canada. Alamos employs more than 2,400 people and is committed to the highest standards of sustainable development. The Company’s shares are traded on the TSX and NYSE under the symbol “AGI”.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Scott K. Parsons
Senior Vice President, Corporate Development & Investor Relations 
(416) 368-9932 x 5439

Khalid Elhaj
Vice President, Business Development & Investor Relations
(416) 368-9932 x 5427
ir@alamosgold.com

The TSX and NYSE have not reviewed and do not accept responsibility for the adequacy or accuracy of this release.

Cautionary Note

This news release includes certain statements that constitute forward-looking information within the meaning of applicable securities laws ("Forward-looking Statements"). All statements in this news release, including statements regarding potential future purchases by Alamos of its Common Shares pursuant to the NCIB, other than statements of historical fact, which address events, results, outcomes or developments that Alamos expects to occur are Forward-looking Statements. Forward-looking Statements are generally, but not always, identified by the use of forward-looking terminology such as "expects", is “expected", "anticipates", "plans" or “is planned”, “trends”, "estimates", "intends" or “potential” or variations of such words and phrases and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved or the negative connotation of such terms.

Alamos cautions readers not to place undue reliance on the forward-looking statements in the information and content on this news release as a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, outlooks, expectations, goals, estimates or intentions expressed in the Forward-looking Statements. These factors include, but are not limited to: changes in the financial markets, changes in applicable laws and governmental regulations, fluctuations the price of gold, fluctuations in relative currency values, risks related to obtaining and maintaining necessary permits and the unpredictability of and fluctuation in the trading price of the Company’s common shares.

Additional risk factors and details with respect to risk factors affecting the Company are set out in the Company’s latest Annual Information Form and MD&A, each under the heading “Risk Factors”, available on the SEDAR+ website at www.sedarplus.ca or on EDGAR at www.sec.gov. The foregoing should be reviewed in conjunction with the information found in this news release. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether written or oral, or whether as a result of new information, future events or otherwise, except as required by applicable law.  

FAQ

What did Alamos Gold (AGI) authorize under the December 22, 2025 NCIB?

Alamos authorized purchases for cancellation of up to 18,580,120 shares (≈5% of public float) from Dec 24, 2025 to Dec 23, 2026.

How many shares has Alamos (AGI) already repurchased under the prior NCIB?

Under the prior NCIB the company repurchased and cancelled 1,326,929 shares for a total of C$54.4M at a weighted average price of C$40.97.

When will Alamos (AGI) be able to buy shares under the new NCIB?

Purchases may be made between Dec 24, 2025 and Dec 23, 2026 through TSX, alternative Canadian trading systems and the NYSE.

What is the maximum daily purchase limit for Alamos (AGI) on the TSX?

The maximum number of shares purchasable on the TSX per day is 296,678, except for block purchase exceptions.

Will Alamos (AGI) cancel shares bought under the NCIB?

Yes, all common shares purchased under the NCIB will be cancelled.

Why is Alamos (AGI) undertaking the NCIB announced December 22, 2025?

The company and board stated they believe share prices at times do not reflect underlying value and that repurchases can be advantageous by increasing proportionate ownership for remaining shareholders.