BMO Research Today - June 19, 2026

研报英文原文证据摘录

BMO Research Today - June 19, 2026

Alamos Gold

Brian Quast, Precious Metals Analyst - Gold

YD Continues to Falter, Guidance Downgraded

OP $51.40 $73.00 $21,586

Rating Price Target Mkt Cap.

• AGI provided an operational update noting that two seismic events occurred at Young-Davidson,

with one at an active mining front. As a result, AGI anticipates reduced mining rates (5ktpd vs

previous guidance of 8ktpd) throughout the remainder of 2026.

• Therefore, 2026 consolidated production is now expected to be below guidance (570-650koz), with

costs being above 2026 AISC guidance ($1,500/oz-$1,600/oz). Management also provided an Island

Gold update and noted that they eliminated the remaining 2026 Argonaut Gold Hedges.

• We maintain our Outperform rating but lower our target price to C$73.00.

Kroger

Kelly Bania, Food Retailers Analyst - Food Retail

1Q Highlights the Choppy Nature of Turnarounds; Lowering Target Price

Mkt $56.61 $60.00 $34,903

• While KR's grocery IDs were stronger than our forecast, core GM%'s were weaker and guidance is

more 2H weighted than expected, due to a weaker 2Q outlook.

• We tweak our F27E EPS down 7¢ to the mid-point of guidance; F28 shifts down commensurately.

• We remain Market Perform but lower our target price to $60 as we expect continued quarterly

choppiness given KR remains at the early stage of its turnaround, but acknowledge changes are for

the better long-term. KR plans to share more at an October 20 analyst meeting.

W.P. Carey

John P. Kim, US Real Estate Analyst - Net Lease REITs

CORRECTION: Hellweg Freezes Over

OP $72.23 $84.00 $16,089

• We are issuing a correction after clarifying with management. We remove any mention of “Tranche

C”, as those assets were previously included within Tranche A & B. We now reduce our 2026 AFFOps