Previous close | 0.4150 |
Open | 0.4150 |
Bid | 0.4200 x 0 |
Ask | 0.4250 x 0 |
Day's range | 0.4150 - 0.4300 |
52-week range | 0.2200 - 0.7700 |
Volume | |
Avg. volume | 4,284,761 |
Market cap | 531.628M |
Beta (5Y monthly) | 1.72 |
PE ratio (TTM) | 8.40 |
EPS (TTM) | N/A |
Earnings date | N/A |
Forward dividend & yield | N/A (N/A) |
Ex-dividend date | N/A |
1y target est | N/A |
Alamos Gold (AGI) to buy its peer Argonaut for $325 million to increase its gold production.
The deal would increase Alamos' gold production to 600,000 ounces per year, with a longer-term production potential of over 900,000 ounces per year, the companies said. Alamos produced 529,300 ounces of gold in 2023. The deal would give Alamos access to Argonaut's Magino mine, located adjacent to Alamos' Island Gold mine in Ontario, Canada.
Canada's main stock index rose on Wednesday, boosted by gains in precious metals miners, while Alamos Gold was among the best performers after it announced a deal to buy smaller rival Argonaut. At 10:05 a.m. ET (1405 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 46.04 points, or 0.21%, at 21,958.56. "Adding to the positive price action, there remains a healthy level of skepticism in the market, corporate earnings have come in better than expected and the economy continues to display remarkable resilience," said Brandon Michael, senior analyst at ABC Funds, in Toronto.