North American Gold Stocks Surge on Gold Price Expectations... Market Cap Increases by 1.6 Trillion Won in One Day

At the New York Stock Exchange, Canadian gold miner Alamos Gold Inc. (AGI) closed at $40.61 on March 23, up 6.11%. Its market capitalization reached approximately $17 billion, gaining around $1.1 billion in a single day, with trading volume climbing to 3.49 million shares amid strong intraday buying.

On February 3, Alamos Gold announced plans to expand its Island Gold district in Ontario to a 20,000-tonnes-per-day processing capacity, projecting a net present value (NPV) of $12.2 billion based on a gold price of $4,500 per ounce, boosting growth expectations. In its February 18 results for Q4 and the full year 2025, the company reported Island Gold produced 254,000 ounces and generated $205 million in free cash flow, and it reaffirmed a plan to scale annual production to one million ounces by 2030.

Headquartered in Toronto, Alamos Gold is a mid-tier producer operating the Young-Davidson and Island Gold mines in Ontario and the Mulatos mine in Sonora, Mexico. The company is focused on building a low-cost, long-life gold portfolio through major expansion projects slated to come online after 2026.