Alamos Gold Stock Price, News & Analysis

Alamos Gold Inc. (TSX:AGI; NYSE:AGI) held its Annual General Meeting on May 27, 2021, reporting 300,039,544 shares voted, representing 76.40% of total outstanding shares. The meeting confirmed the election of all nominated directors, including Elaine Ellingham (87.89% approval) and David Fleck (86.46% approval). The Company also appointed KPMG LLP as its auditor, passing with 99.63% approval. The advisory resolution on executive compensation was approved with 98.10%. Ronald E. Smith retired from the Board, recognized for his contributions since 2015.

Alamos Gold reported strong Q1 2021 results, achieving gold production of 125,800 ounces, exceeding guidance by 14%. The Young-Davidson and Island Gold operations set records, contributing to revenues of $227.4 million with an average realized price of $1,798 per ounce. The company generated $9.9 million in free cash flow, with cash balances reaching $238.2 million. Production outlook remains positive, but a $1 billion treaty claim against Turkey was filed, anticipating an impairment charge of $215 million. Overall, the company shows strong operational performance amidst ongoing growth initiatives.

Alamos Gold (AGI) plans to file a treaty claim exceeding $1 billion against Turkey due to expropriation related to its Turkish gold mining project. This follows the Turkish government's refusal to renew mining licenses, impacting over $500 million in future economic benefits and leading to a $215 million impairment charge. Alamos has invested over $250 million in Turkey, contributing significantly to local economies, but claims the government has not provided reasons for the non-renewal or engaged in negotiations. The legal process is expected to take up to five years.

On April 9, 2021, Alamos Gold Inc. (TSX:AGI; NYSE:AGI) announced it acquired 15,900,000 common shares of Manitou Gold Inc. for C$0.08 per share, totaling 2.5% of Manitou's outstanding shares. Post-transaction, Alamos will hold 62,731,077 shares, or 19.96%, assuming warrant exercise. This investment aims to influence strategic decisions at Manitou, as Alamos retains rights under an Investor Rights Agreement. The transaction is subject to regulatory approvals and further details will be filed in compliance with Canadian regulations.

Alamos Gold Inc. (TSX:AGI; NYSE:AGI) will release its first quarter 2021 financial results on April 28, 2021, followed by a conference call on April 29, 2021, at 11:00 am ET. The Annual Meeting of Shareholders is scheduled for May 27, 2021. The meeting will be virtual due to COVID-19, starting at 4:00 pm ET. Shareholders will receive detailed participation instructions. Alamos operates three mines in North America and has a diverse portfolio of development projects, emphasizing sustainable development.

Alamos Gold Inc. (TSX:AGI; NYSE:AGI) has filed its annual information form and 2020 annual report on Form 40-F with the SEC and Canadian securities authorities. The report includes audited financial statements for the fiscal year ending December 31, 2020, and is accessible via the company's website. Alamos operates three gold mines in North America and has multiple development projects across Canada, Mexico, Turkey, and the U.S. The company is committed to sustainable development and employs over 1,700 staff.

Alamos Gold reported strong financial results for 2020, achieving a record production of 426,800 ounces of gold and generating free cash flow of $122.3 million. The company announced a 25% increase in its dividend, reflecting its robust financial health. Fourth-quarter production reached 120,400 ounces, with revenues of $226.6 million. Significant achievements included the expansion of operations at Young-Davidson and Island Gold. For 2021, the company expects a 15% production increase and lower total cash costs between $710 and $760 per ounce.

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.