10 Best Canadian Gold Stocks to Buy Now

5. Alamos Gold Inc. (NYSE:AGI)

Number of Hedge Fund Holders: 31

Alamos Gold Inc. (NYSE:AGI) is a major gold producer that operates across Canada, Mexico, and the U.S. The company has earned its reputation through gold deposit exploration and development, with key assets in Island Gold, Young-Davidson, Mulatos District, and Magino.

Alamos Gold Inc. (NYSE:AGI) hit a milestone in 2024 with record gold production of 567,000 ounces, which was a 7% increase over the prior year. This growth came largely from the integration of the newly acquired Magino mine (purchased from Argonaut Gold) and strong output from the Mulatos District and Island Gold. The company’s Q4 production in 2024 reached 140,200 ounces, meeting quarterly targets.

Due to this strong performance, annual revenue jumped 32% to $1.3 billion, with gold sales of 560,234 ounces at an average price of $2,379 per ounce. Q4 2024 revenue rose 48% year-over-year to $375.8 million, aided by higher gold prices, which averaged $2,632 per ounce.

Furthermore, Alamos Gold Inc. (NYSE:AGI) commenced construction of the Lynn Lake project in early 2025, with initial production expected in 2028. Once operational, the project is expected to increase annual output to 900,000 ounces, further improving cost efficiency.

In 2025, production is expected to be between 580,000 and 630,000 ounces. The Phase 3+ Expansion at Island Gold is set to be completed by mid-2026 and should boost production by 24% by 2027 while cutting costs. Alamos Gold Inc. (NYSE:AGI) remains one of the best Canadian stocks, with strategic growth plans and solid financial results.