The Globe and Mail reports in its Friday, July 10, edition that RBC Dominion Securities analyst Josh Wolfson is expecting a "mixed" second quarter earnings season for gold equities, pointing to "tough quarter-over-quarter comps on margin compression from both declining gold/silver prices and rising costs." The Globe's David Leeder writes in the Eye On Equities column that Mr. Wolfson says in a note: "Consensus estimates outline reasonable operating targets, but may not yet fully reflect lower realized prices (RBC estimate down 8 per cent EPS, down 16 per cent FCF vs. street). Q2 reporting will feature an abnormal volume of corporate and project updates that could add to volatility. Despite these uncertainties, gold producers remain in a position of strength -- largely net cash, returning record capital, still reaping near-record margins and with better operating results guided in 2H." Mr. Wolfson says the near-term outlook for gold investors is "glass half full/empty, depending on your framing." Mr. Wolfson continues to rate Alamos Gold "outperform." He gave his share target a $10 trim to $42 (all figures U.S.). Analysts on average target the shares at $53.85.