UPDATE: Higher Gold Prices Boost Alamos Gold Profit; Shares Rose 3%

By Midnight Trader,  May 01, 2012, 10:01:20 AM EDT

Alamos Gold Inc. (AGI.TO) gained 3% in early trade after reportedly recording a 65% jump in first quarter profit mainly on robust gold prices and a tax gain.

Reuters said net income rose to $29.5 million, or 24 cents per share, from $17.9 million, or 15 cents per share, a year ago. Revenue rose 29% to $70.3 million. Production rose 8% to 40,500 ounces of gold on a rise in crusher throughput. Gold sold rose 7% to 41,745 ounces.

AGI is now trading at $18.70 with more than 121,000 shares changing hands.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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