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

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.

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

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