Alamos Gold Stock Price, News & Analysis

Alamos Gold Inc. (AGI) has announced a target to reduce its absolute greenhouse gas (GHG) emissions by 30% by 2030, using a 2020/2021 baseline. This ambitious goal aligns with sustainability commitments and aims to cut GHG intensity by 55%. Currently, Alamos leads the industry with an average of 0.38 tCO₂e per ounce of gold produced, significantly lower than the industry average of 0.67 tCO₂e. The company is implementing various initiatives, including renewable energy projects and cleaner fuel options, to support its emissions reduction strategy.

Alamos Gold Inc. (TSX:AGI; NYSE:AGI) has declared a quarterly dividend of US$0.025 per share, payable on June 30, 2022 to shareholders of record by June 16, 2022. The company has returned $264 million to shareholders over the past 13 years via dividends and buybacks, including $27 million in 2022. In May 2022, Alamos repurchased 1.0 million shares for $7.4 million. The dividend qualifies as an “eligible dividend” for Canadian tax purposes and offers a dividend reinvestment plan at a 2% discount.

Alamos Gold Inc. (AGI) reported the results of its Annual General and Special Meeting held on May 26, 2022. A total of 295,085,862 shares were voted, representing 75.25% of the total shares issued. All nominated directors received overwhelming support, with votes for ranging from 77.01% to 99.78%. KPMG LLP was appointed as the auditor. Additionally, resolutions for the Long-Term Incentive Plan and Employee Share Purchase Plan were approved, along with the Fifth Amended and Restated Shareholder Rights Plan. The meeting highlighted strong shareholder engagement and approval of executive compensation approaches.

Alamos Gold Inc. (TSX:AGI; NYSE:AGI) announced an automatic share purchase plan (ASPP) to facilitate repurchases of its Class A common shares under a normal course issuer bid (NCIB). Since December 24, 2021, it has purchased 1 million shares at an average price of US$7.415, totaling $7.4 million in May 2022. The ASPP allows purchases during insider trading blackouts, ensuring compliance with Canadian securities laws. Alamos is permitted to buy up to 29,994,398 shares over a year, constituting about 10% of its public float.

Alamos Gold reported strong first-quarter 2022 results, producing 98,900 ounces of gold and achieving revenues of $184.5 million. Despite a net loss of $8.5 million, adjusted earnings were $18 million. The company anticipates increased production and lower costs in the latter half of 2022, driven by the upcoming La Yaqui Grande project. Cash flow from operations stood at $46.5 million, with a quarterly dividend of $9.8 million declared. Significant progress was made on growth projects, with key milestones at Island Gold and a strong liquidity position of $124.2 million in cash.

Alamos Gold Inc. (TSX:AGI; NYSE:AGI) announced the groundbreaking for the Island Gold Mine expansion on April 11, 2022. This expansion aims to increase production and lower costs, benefiting the Algoma region significantly. The mine's mineral reserves and resources have increased from 1.8 million ounces to 5.1 million ounces due to exploration efforts. The expansion is expected to sustain over 600 jobs and double employment during construction. It aims to enhance mining efficiency and reduce greenhouse gas emissions by 35% with improved infrastructure.

Alamos Gold Inc. (AGI) will announce its first quarter 2022 financial results post-market on April 27, 2022. A conference call is scheduled for April 28, 2022, at 11:00 am ET for management to discuss these results. The company will also host its Annual General and Special Meeting of Shareholders on May 26, 2022, which will be conducted virtually. The record date for eligible shareholders is April 7, 2022. Alamos is a Canadian intermediate gold producer with operations in North America and a focus on sustainable development.

On March 30, 2022, Alamos Gold (TSX:AGI; NYSE:AGI) announced the filing of its annual information form and 2021 40-F annual report with the SEC and Canadian authorities. This documentation includes audited financial statements for the year ended December 31, 2021. Alamos, a Canadian-based intermediate gold producer, operates three mines in North America and has a portfolio of development projects across several countries. Shareholders can request a free hard copy of these documents.

Alamos Gold Inc. (NYSE:AGI; TSX:AGI) has filed a Closure Plan Amendment for the Island Gold Mine with the Ontario Government, marking a pivotal step towards the Phase III expansion of the mine. This expansion aims to increase production by about 70%, reaching an average of 236,000 ounces of gold annually at low all-in sustaining costs of $534 per ounce by 2025. Additionally, Mineral Reserves and Resources have grown by 37% to 5.1 million ounces, with a revised mine plan expected mid-2022 to further enhance operational value.