Alamos Gold Stock Price, News & Analysis

Alamos Gold (AGI) reported record Q3 2024 results with production of 152,000 ounces of gold, a 9% increase from Q2. The company generated record quarterly revenues of $360.9 million, up 41% year-over-year, driven by strong gold prices averaging $2,458 per ounce. The acquisition of Magino mine was completed on July 12, 2024, leading to increased 2024 production guidance of 550,000-590,000 ounces.

The company reported strong free cash flow of $87.5 million and adjusted net earnings of $78.1 million ($0.19 per share). Total cash costs were $984 per ounce with all-in sustaining costs of $1,425 per ounce. Cash and cash equivalents stood at $291.6 million as of September 30, 2024.

Alamos Gold Inc. (TSX:AGI; NYSE:AGI) has announced the release date for its third quarter 2024 financial results. The company will publish the results after market close on Wednesday, November 6, 2024. A conference call with senior management is scheduled for Thursday, November 7, 2024 at 11:00 am ET to discuss the results.

Participants can join the conference call via webcast or through dial-in numbers provided for Toronto and International, as well as toll-free options for Canada and the United States. A playback of the call will be available until December 7, 2024, and the webcast will be archived on the company's website.

Alamos Gold Inc. (TSX:AGI; NYSE:AGI) has announced a $2 million contribution over ten years to The Princess Margaret Cancer Foundation to create the new Alamos Gold Chair in Gastrointestinal Surgical Oncology. Dr. Catherine O'Brien was named the inaugural Chair, effective August 1, 2024, for an initial five-year term. The funding aims to support advanced research in gastrointestinal cancers, focusing on improving early detection, developing more effective treatments, and ultimately saving lives.

Gastrointestinal cancers, affecting the stomach, liver, pancreas, colorectal region, esophagus, and small intestine, pose a significant health challenge in Canada. Over 30,000 Canadians are diagnosed with these cancers annually, with colorectal cancer accounting for approximately 26,000 cases. The research initiatives supported by this funding will include clinical trials, biomarker discovery, and studies into genetic and environmental factors contributing to gastrointestinal cancers.

Alamos Gold Inc. (TSX:AGI; NYSE:AGI) has provided updated three-year production and operating guidance, incorporating the recently acquired Magino mine. Key highlights include:

1. Increased production guidance: 13% increase in 2024 to 550,000-590,000 oz, and over 20% increase in 2025 and 2026.

2. Higher AISC guidance: 11% average increase from 2024-2026 due to Magino's inclusion, but still below industry average.

3. Long-term potential: Production capacity of 900,000+ oz per year through PDA development and Lynn Lake growth.

4. Updated capital guidance: Includes Magino, PDA development, and revised Phase 3+ Expansion at Island Gold.

5. Cost reduction: AISC expected to decrease 10% by 2026 compared to 2024, driven by low-cost growth at Island Gold and improving costs at Magino.

Alamos Gold has been recognized as a TSX30™ 2024 winner by the Toronto Stock Exchange, highlighting its exceptional performance over the past three years. The company's share price increased by an impressive 134% during this period, earning it a spot among the top 30 performing stocks on the TSX.

President and CEO John A. McCluskey attributed this success to Alamos Gold's focus on a sustainable business model that supports growing returns for all stakeholders. The company has achieved significant growth, setting new operational and financial records, and anticipates continued success with projected increases in gold production and decreasing costs.

The TSX30™ recognition underscores Alamos Gold's role in driving innovation and leadership in the Canadian economy, particularly in the energy and mining sectors as they align with emerging technologies.

Alamos Gold Inc. (TSX:AGI; NYSE:AGI) has announced key appointments to strengthen its leadership team. Tony Giardini, with over 40 years of financial and senior leadership experience in the mining sector, has been appointed to the Board of Directors. Scott K. Parsons has been promoted to Senior Vice President, Corporate Development and Investor Relations, while Khalid Elhaj has been named Vice President, Business Development and Investor Relations.

Giardini, currently President and CEO of Trilogy Metals Inc., brings extensive experience from roles at Ivanhoe Mines, Kinross Gold, and Placer Dome. Parsons, who joined Alamos in 2013, will lead the Corporate Development function and Business Evaluation Committee. Elhaj, with the company since 2015, will work closely with Parsons in Investor Relations and Corporate Development.

Alamos Gold (TSX:AGI; NYSE:AGI) has announced a development plan for its high-grade Puerto Del Aire (PDA) project in the Mulatos District, Sonora, Mexico. The PDA project is expected to generate significant economic returns, with an after-tax IRR of 46% and an NPV of $269 million at a gold price of $1,950 per ounce. First production is slated for mid-2027, and the project aims to triple the Mulatos District's mine life to 2035. PDA is projected to produce 127,000 ounces of gold annually for the first four years and 104,000 ounces over its eight-year mine life. Initial capital expenditure is estimated at $165 million, to be covered by existing free cash flow.

The project benefits from low operating costs, with total cash costs at $921 per ounce and mine-site all-in sustaining costs at $1,003 per ounce. Potential for further mine life extension exists through ongoing exploration at PDA and Cerro Pelon. The PDA project will utilize existing infrastructure, reducing capital intensity and execution risk, and will not require a tailings dam due to dry stacking.

Alamos Gold Inc. (TSX:AGI; NYSE:AGI) reported new results from ongoing surface exploration drilling in the Mulatos District, focusing on Puerto Del Aire (PDA) and Cerro Pelon. Key highlights include:

1. Cerro Pelon: Drilling identified high-grade feeder structures 45-125m wide and up to 170m vertically, with top portions containing oxide mineralization.

2. PDA: Additional high-grade gold mineralization extended beyond current Mineral Reserves and Resources in GAP-Victor, PDA3, and PDA Extension zones.

3. 2024 Exploration Budget: $19 million allocated for 55,000m of drilling, including 27,000m at PDA and surrounding areas.

4. Mineral Reserves: PDA's reserves increased 33% to 1.0 million ounces at 5.61 g/t Au in 2023.

5. Development Plan: A PDA development plan will be released, outlining a project to nearly triple the current mine life of the Mulatos District.

Alamos Gold Inc. (TSX:AGI; NYSE:AGI) has declared a quarterly dividend of US$0.025 per common share, payable on September 26, 2024, to shareholders of record as of September 12, 2024. This marks the company's 15th consecutive year of dividend payments, with a total of $354 million returned to shareholders through dividends and share buybacks, including $30 million in 2024. Alamos has also implemented a Dividend Reinvestment Plan (DRIP), allowing shareholders to increase their investment by receiving common shares instead of cash dividends at a 3% discount to the prevailing market price. The DRIP enrollment deadline for the September 26 dividend is five business days prior to the September 12 record date.