Why Alamos Gold Inc. Stock Just Jumped 11%
Shares of Alamos Gold (NYSE: AGI) are up 11% as of 11:15 a.m. EDT following the release of the miner's second-quarter earnings.
Alamos Gold announced fiscal Q2 earnings this morning, reporting that it made "significant gains," achieved "record production," and produced "the highest combined free cash flow from our operations in years" -- all of which sounds pretty good. Now here's what it means in dollars and cents.
Alamos produced 105,900 ounces of gold at a cost of sales of $1,053 per ounce in the quarter, then turned around and sold most of that gold (104,023 ounces) at an average price of $1,262 per ounce. This produced $131.3 million in revenue for the company, and profits of $0.01 per share. The company exceeded analyst expectations for sales (Wall Street had been looking for only $126.4 million in sales), and met expectations for profits.
Source: Fool.com
