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.
Alamos Gold Inc. (AGI) announced a 25% increase in its quarterly dividend to US$0.025 per share, marking the second consecutive raise for a total increase of 67% over two quarters. This decision reflects the Company's strong outlook and free cash flow generation, reporting $58 million in the fourth quarter of 2020. The dividend is payable on March 31, 2021, with a record date of March 17, 2021. Alamos has returned $196 million to shareholders over 12 consecutive years through dividends and buybacks and offers a dividend reinvestment plan with a 3% discount.
Alamos Gold Inc. (TSX:AGI; NYSE:AGI) reported significant growth in its Mineral Reserves and Resources as of December 31, 2020. Notably, Island Gold's reserves rose by 8%, totaling 1.3 million ounces, while inferred resources surged by 40% to 3.2 million ounces. Global Proven and Probable Mineral Reserves increased to 9.9 million ounces, with overall reserves and resources up 27% from 2019. The company aims to double its exploration budget to $50 million in 2021, focusing primarily on Island Gold, which displays strong potential for further growth.
Alamos Gold Inc. (AGI) announced the appointment of John Fitzgerald as Vice President, Projects, effective immediately. Fitzgerald brings over 30 years of experience in engineering and management, previously serving as VP at Centerra Gold and COO at AuRico Metals. He will oversee all engineering, procurement, and construction for the company's development projects. Alamos operates three mines in North America and has a robust project portfolio across Canada, Mexico, Turkey, and the U.S.
Alamos Gold Inc. reported significant exploration drilling results from the Island Gold Mine, extending high-grade gold mineralization in multiple zones. Notable drill results include:
- 54.18 g/t Au over 6.54 m
- 123.74 g/t Au over 5.06 m
- 18.64 g/t Au over 5.89 m
- 97.76 g/t Au over 2.00 m
A total of 25 million is budgeted for 2021 exploration, up from 21 million in 2020. The company expects continued resource growth with the Phase III shaft expansion.
Alamos Gold Inc. (AGI) will release its Q4 and year-end 2020 financial results on February 24, 2021, after market close. A conference call is scheduled for February 25, 2021, at 11:00 am ET, enabling stakeholders to discuss the results directly with senior management. Participants can join via phone or through a webcast. Alamos, operating three gold mines in North America, is committed to sustainable development and employs over 1,700 people.
Alamos Gold Inc. (TSX:AGI; NYSE:AGI) has received approval from the Toronto Stock Exchange for a Normal Course Issuer Bid. This allows the company to repurchase up to 35,145,504 Class A Common Shares, representing 10% of its public float as of December 14, 2020. Purchases will occur over a twelve-month period starting December 24, 2020. Alamos believes that repurchasing shares will benefit shareholders by increasing their ownership proportion when share prices are undervalued. Previous repurchases totaled 1,133,561 shares at an average price of C$6.99.
Alamos Gold Inc. (TSX:AGI; NYSE:AGI) announced the acquisition of Trillium Mining Corp. for C$25 million, adding 5,418 hectares to its land package, increasing it to 14,929 hectares. This acquisition enhances exploration potential near the Island Gold mine, with recent drilling showing high-grade gold mineralization, including 28.97 g/t Au over 21.76 m. The Trillium land also includes significant regional exploration opportunities within the Goudreau Lake Deformation Zone. Alamos aims for systematic exploration to maximize gold mineralization potential.
Alamos Gold Inc. (TSX:AGI; NYSE:AGI) has announced its 2021 production and operating guidance, projecting gold production of 470,000 to 510,000 ounces, a 17% increase from 2020. Key drivers include the lower mine expansion at Young-Davidson, expected to yield significant free cash flow. The company anticipates lower total cash costs of $710 to $760 per ounce, and all-in sustaining costs of $1,025 to $1,075 per ounce. A total capital budget of $320 to $350 million is outlined, reflecting investments in growth projects like La Yaqui Grande and Island Gold expansion. Additionally, a 33% dividend increase is planned.
Alamos Gold Inc. (TSX:AGI; NYSE:AGI) has declared a quarterly dividend of US$0.02 per common share, marking a 33% increase from the previous quarter. This increase leads to an annual dividend rate of US$0.08 per share, reflecting the company's robust cash flow outlook following the Young-Davidson mine expansion. Shareholders of record by December 7, 2020, will receive the dividend on December 21, 2020. Additionally, Alamos has introduced a dividend reinvestment plan (DRIP) offering shares at a 3% discount while suspending optional cash purchases.
Alamos Gold Inc. reported record free cash flow of $76 million for Q3 2020, leading to a 33% increase in its dividend to US$0.08 per share. The company produced 117,100 ounces of gold, marking a 49% increase from the previous quarter. Operating revenues reached $218.4 million, with adjusted net earnings of $56.9 million or $0.15 per share, representing a 143% increase year-over-year. The company is now debt-free and expects continued strong cash flow, supporting future growth projects and returns to shareholders.
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