Alamos Gold Q3 2026: Surging Costs Swamp a Record Gold Price - 24/7 Wall St.

AI desk brief

Alamos Gold’s Q3 showed that record gold prices were not enough to offset a sharp cost squeeze: adjusted EPS came in at $0.44, while all-in sustaining costs jumped to $1,956/oz from $1,375 a year ago. The miss was driven by lower Island Gold grades, a roughly 40% production drop at Young-Davidson after a June seismic event, and higher sustaining capital, even as gold averaged a record price during the quarter.

Operationally, the Island Gold District partially offset weakness with a quarterly production record on record underground mining and Magino milling rates, but it was not enough to overcome the Young-Davidson disruption. The Phase 3+ shaft commissioning at Island Gold slipped by a quarter to mid-2027, delaying expected cost relief, while Mulatos District output fell 25% as La Yaqui Grande approaches mine-life end.