As previously reported, Canaccord analyst Dalton Baretto upgraded Alamos Gold to Buy from Hold and raised his price target on the shares to C$8.25 from C$6.50 after the company's northern Ontario assets. At Island Gold, the analyst sees "promising exploration upside" that could result in an accretive Phase III expansion, while at Young-Davidson, he came away with the belief that the bulk of the risk associated with the lower mine construction is now behind the company, and that the risks associated with the remaining construction and eventual tie-in are much lower.

Pre-earnings options volume in Alamos Gold is normal with calls leading puts 3:1. Implied volatility suggests the market is anticipating a move near 3.9%, or 60c, after results are released. Median move over the past eight quarters is 2.0%.