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Highlights

  • Alamos Gold produced 135,400 ounces of gold in Q3 2023, higher than the guidance of 120,000 to 130,000 ounces for the quarter.
  • Its cash and cash equivalents jumped to USD 215.9 million, approximately 14% higher than second quarter cash balance.
  • Its earnings before taxes increased from USD 33.9 million in Q3 2022 to USD 78.2 million in Q3 2023.

Alamos Gold Inc (TSX: AGI) is engaged in acquisition, exploration, and production of gold and other precious metals. The company has its operations spread across two main geos - Canada and Mexico. Three of its operating mines are located in North America, namely the Mulatos and El Chanate Mines in Mexico and The Young-Davidson Mine in Canada.

In the third quarter of 2023, AGI produced 135,400 ounces of gold. This was higher than the guidance of 120,000 to 130,000 ounces for the quarter, mainly due to strong performances from the Mulatos District which produced 53,900 ounces in Q3 2023 and 164,700 ounces YTD (year-to-date).

For the reporting period, the cash and cash equivalents of the firm jumped to USD 215.9 million, approximately 14% higher than the cash balance at thesecond quarter. Alamos Gold’s free cash flow stood at USD 37.3 million and USD 109.4 million in Q3 2023 and year-to-date, respectively. The company was able to generate a cash flow of USD 112.5 million from operating activities. The hike in revenue can be attributed to increased production volumes of Ag and Au and higher realized prices.



Its earnings before taxes increased from USD 33.9 million in Q3 2022 to USD 78.2 million in Q3 2023, because of higher earnings from operations. Overall, AGI turned its net losses of USD 1.40 million in pcp to a net income of USD 39.4 million in the reporting period.

In the month of November, the company declared to pay a dividend of USD 0.025 per common share for the quarter.

Top 10 Shareholders:

Around 34.22% of the total shareholding is held by its top ten shareholders. While BlackRock Investment Management (UK) Ltd. holds maximum stake of ­­12.74%, Van Eck Associates Corporation holds over 5.6% of the total shareholding.

Stock Price Performance

AGI’s stock price has gained 6.31% in the past one month. It has increased by over 14.2% over the last three months. The stock’s 52-week high and low price stand at CAD 19.18 and CAD 12.16, respectively.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is November 22, 2023. The reference data in this report has been partly sourced from EODHD/Others.