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Alamos Gold Inc. - AGI STOCK NEWS

Welcome to our dedicated page for Alamos Gold news (Ticker: AGI), a resource for investors and traders seeking the latest updates and insights on Alamos Gold stock.

Alamos Gold Inc. (AGI) is a leading intermediate gold producer based in Canada with a diversified portfolio of production from three primary mining operations across North America. These include the Young-Davidson and Island Gold mines situated in Northern Ontario, Canada, and the Mulatos mine located in Sonora State, Mexico. The company, headquartered in Toronto, Ontario, has been instrumental in contributing to sustainable development and employs over 1,900 individuals.

Alamos Gold Inc. focuses on low-cost gold production, superior financial performance, and delivering enhanced shareholder value. The company has consistently achieved these objectives, evidenced by its diverse mining projects and robust financial health. In addition to its operational mines, Alamos holds a significant portfolio of advanced development stage projects and exploration assets in Mexico, Turkey, Canada, and the United States.

One of Alamos Gold's noteworthy achievements is its commitment to shareholder returns. The company has a strong track record of paying dividends for 15 consecutive years, returning over $344 million to shareholders through dividends and share buybacks. Recently, the company declared a quarterly dividend of US$0.025 per common share, with a Dividend Reinvestment Plan (DRIP) in place, allowing shareholders to reinvest dividends in common shares at a 3% discount to market price.

Financially, Alamos Gold has shown remarkable performance. For the first quarter of 2024, the company reported record quarterly revenues of $277.6 million, benefiting from increased gold prices and robust production metrics. The Young-Davidson mine continues to demonstrate operational consistency with significant free cash flow generation. Island Gold mine is undergoing a Phase 3+ Expansion, expected to boost production capacity significantly, while the Mulatos mine has posted record production figures driven by the La Yaqui Grande project.

Alamos Gold's strategic acquisitions also underscore its growth trajectory. The recent acquisition of Argonaut Gold Inc. is set to create one of the largest and lowest-cost gold mines in Canada by integrating the Magino mine with the Island Gold mine, unlocking substantial synergies estimated at $515 million. Furthermore, the acquisition of Orford Mining Corporation adds the highly prospective Qiqavik Gold Project in Quebec to its growth portfolio.

The company's commitment to the highest standards of sustainable development is reflected in its environmental, social, and governance (ESG) initiatives. Alamos Gold has consistently maintained zero significant environmental incidents, invested in local community development, and ensured a strong safety culture across its operations.

In summary, Alamos Gold Inc. stands out for its strategic focus on low-cost gold production, financial robustness, and dedication to sustainable development, making it a valuable and resilient player in the gold mining industry.

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Alamos Gold Inc. (TSX:AGI; NYSE:AGI) announced key executive appointments: Luc Guimond as Vice President, Operations, and Khalid Elhaj as Vice President, Business Strategy. Léon Grondin-Leblanc has been promoted to General Manager of Young-Davidson. Guimond brings 35 years of mining experience, having held senior roles at Northgate Minerals and others. Elhaj, with 15 years in corporate development, will oversee business strategy execution. Alamos operates three mines in North America and focuses on sustainable development.

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Alamos Gold Inc. (TSX:AGI; NYSE:AGI) has announced a Normal Course Issuer Bid (NCIB) to repurchase up to 29,994,398 Class A Common Shares, representing 10% of its public float as of December 15, 2021. The NCIB will be active from December 24, 2021, to December 23, 2022. Alamos aims to enhance shareholder value, believing its shares are undervalued. Previously, during its last NCIB, it purchased 1,436,562 shares at an average price of C$9.34. The company operates three mines in North America and has significant development projects in various regions.

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Alamos Gold Inc. (TSX:AGI; NYSE:AGI) announced promising results from its exploration program at the Lynn Lake Project in Manitoba, reporting broad zones of shallow gold mineralization at the newly discovered Tulune target. All 17 drilled holes intersected gold, with key highlights including 1.22 g/t Au over 47.25 m. The Gordon and MacLellan deposits also showed high-grade mineralization, with notable intersections above 28 g/t Au. Overall, Mineral Reserves increased by 27% to 2.1 million ounces since 2017, bolstering the project's economic outlook.

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Alamos Gold Inc. has announced the exercise of 5,299,525 common share purchase warrants at an exercise price of CDN$0.50 per share of Red Pine Exploration Inc. This transaction results in Alamos owning approximately 19.75% of Red Pine's outstanding shares on a partially diluted basis. Before this exercise, Alamos held 17,414,858 common shares and 5,299,525 warrants of Red Pine. The acquisition is for investment purposes, and the Early Warning Report will be filed as required by Canadian regulations.

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Alamos Gold Inc. (TSX:AGI; NYSE:AGI) has declared a quarterly dividend of US$0.025 per share and repurchased 383,000 shares totaling $2.9 million at $7.55 each in November. Year-to-date, the company has repurchased 1,183,262 shares for $8.9 million, returning $48 million to shareholders in 2021 through dividends and buybacks. The dividend is payable on December 21, 2021, to shareholders of record by December 7, 2021, and qualifies as an eligible dividend for Canadian tax purposes. A Dividend Reinvestment Plan (DRIP) is also available at a 2% discount.

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Alamos Gold Inc. (AGI) announced significant results from exploration drilling at the Island Gold mine, indicating an extension of high-grade gold mineralization. Notable findings include a drill hole confirming mineralization extending 300 meters down-plunge from existing resources, reaching depths over 1,700 meters. Reliable high-grade intersections include 15.86 g/t Au over 16.04 meters and 12.03 g/t Au over 8.26 meters. The exploration success suggests substantial potential for growth in Mineral Reserves and Resources, particularly in the Island East area, which is within proximity to the planned shaft.

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Alamos Gold reported third-quarter financial results for the period ending September 30, 2021, revealing a 104,700-ounce gold production, an 11% drop from the previous year. Challenges at the Mulatos mine led to a revised production guidance reduction of 15,000 ounces for 2021. However, strong performance at Canadian operations, especially Young-Davidson, with a production of 50,000 ounces, showcases growth potential. Revenue stood at $198 million, down 9% from the previous year, with total cash costs rising to <$b>790-$810 per ounce. The construction of La Yaqui Grande progresses towards its 2022 completion.

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Alamos Gold Inc. (TSX:AGI; NYSE:AGI) will announce its Q3 2021 financial results after market close on October 27, 2021. A conference call is scheduled for October 28, 2021, at 11:00 am ET, where senior management will discuss the results. The call can be accessed via dial-in numbers for Canada and international participants, with a playback option available until November 28, 2021. Alamos Gold operates three mines and has a diverse portfolio of development projects across North America, Mexico, Turkey, and the U.S., emphasizing sustainable development.

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Alamos Gold Inc. (AGI) declared a quarterly dividend of US$0.025 per common share and repurchased 600,000 shares for $4.5 million at $7.50 per share in August. Year-to-date, it has repurchased 800,262 shares for $6.0 million, returning $35 million to shareholders through dividends and buybacks in 2021. The dividend is payable on September 30, 2021, to shareholders recorded by September 16, 2021. The company offers a dividend reinvestment plan allowing shareholders to acquire shares at a 2% discount. Alamos has consistently paid dividends for 12 years, returning $223 million to shareholders.

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Alamos Gold Inc. (NYSE: AGI) reported Q2 2021 results with gold production of 114,200 ounces, a 46% year-over-year increase. Young-Davidson and Island Gold performed strongly, with mining rates expected to rise. The company achieved revenues of $195.1 million, a 55% increase, while cash flow from operations was $86.7 million, up 75%. However, a $213.8 million impairment charge was recorded due to the Turkish operations dispute. Alamos ended the quarter with $233.9 million in cash and no debt, continuing capital projects, and aiming for a strong production outlook for the rest of 2021.

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FAQ

What is the current stock price of Alamos Gold (AGI)?

The current stock price of Alamos Gold (AGI) is $18.33 as of December 20, 2024.

What is the market cap of Alamos Gold (AGI)?

The market cap of Alamos Gold (AGI) is approximately 7.7B.

What is Alamos Gold Inc.'s primary business?

Alamos Gold Inc. is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America, focusing on low-cost gold production and sustainable development.

Where are Alamos Gold's operational mines located?

Alamos Gold operates three primary mines: Young-Davidson and Island Gold mines in Northern Ontario, Canada, and the Mulatos mine in Sonora State, Mexico.

How does Alamos Gold Inc. contribute to shareholder returns?

Alamos Gold has a strong track record of paying dividends for 15 consecutive years, with a Dividend Reinvestment Plan (DRIP) allowing shareholders to reinvest dividends in common shares at a discount.

What are some recent achievements of Alamos Gold Inc.?

Recent achievements include record quarterly revenues of $277.6 million in Q1 2024, significant progress on the Phase 3+ Expansion at Island Gold, and the acquisition of Argonaut Gold Inc.

What is the significance of the Phase 3+ Expansion at Island Gold?

The Phase 3+ Expansion at Island Gold is expected to significantly increase production capacity, enhancing Alamos Gold's position as a leading gold producer with growing production and declining costs.

How does Alamos Gold Inc. ensure sustainable development?

Alamos Gold is committed to the highest standards of sustainable development, focusing on zero significant environmental incidents, community investments, and a strong safety culture across its operations.

What are Alamos Gold’s growth projects?

Alamos Gold’s growth projects include the Phase 3+ Expansion at Island Gold, the Lynn Lake project in Manitoba, Canada, and the recently acquired Qiqavik Gold Project in Quebec.

How is Alamos Gold addressing ESG (Environmental, Social, and Governance) concerns?

Alamos Gold has strong ESG initiatives, including zero significant environmental incidents, ongoing community investments, and maintaining a safe working environment for employees.

What is the financial outlook for Alamos Gold in 2024?

Alamos Gold is on track to achieve its 2024 guidance with strong operational performance and increased gold prices, expecting to generate robust cash flow while funding key growth projects.

How does Alamos Gold Inc. manage its financial health?

Alamos Gold maintains a strong liquidity position with significant cash reserves, no debt, and a $500 million undrawn credit facility, ensuring it can internally fund its growth initiatives and sustain financial stability.

Alamos Gold Inc.

NYSE:AGI

AGI Rankings

AGI Stock Data

7.70B
419.05M
0.27%
69.94%
0.81%
Gold
Basic Materials
Link
United States of America
Toronto