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Alamos Gold Stock Hits 52-Week High: What's Driving Its Performance?
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Shares of Alamos Gold Inc. (AGI - Free Report) scaled a new 52-week high of $24.59 on Friday before ending the session slightly lower at $23.77. The increase was fueled by rising gold prices and AGI’s solid fourth-quarter results.
Alamos Gold currently has a market capitalization of $10.05 billion and a Zacks Rank #3 (Hold).
What’s Aiding Alamos Gold Stock?
Solid Q4 & 2024 Results: AGI posted adjusted earnings of 25 cents per share in the fourth quarter of 2024, beating the Zacks Consensus Estimate of 21 cents. The bottom line surged 108% year over year. Revenues increased 47.6% year over year to a record $376 million in the fourth quarter of 2024.
Alamos Gold posted adjusted earnings of 81 cents per share in 2024, beating the Zacks Consensus Estimate of 80 cents. The company reported earnings of 53 cents in 2023. Revenues increased 31.6% year over year to a record $1.35 billion in 2024. The figure beat the Zacks Consensus Estimate of $1.34 billion. Gains from the acquisition of the Magino mine in July 2024, and strong ongoing performances from Island Gold and the Mulatos District mine drove the upside.
Strong Financial Position: Net cash from operating activities was a record $661 million in 2024, up from $473 million in the prior year. Cash and cash equivalents were $327 million as of Dec. 31, 2024, up from $225 million as of Dec. 31, 2023.
Upbeat Outlook: The company expects gold production of 580,000-630,000 ounces for 2025, considering the ramp-up of production at Island Gold mine and a full year of operation at Magino. This indicates a 7% increase at the mid-point from the 2024’s reported figure.
The company expects production to rise 24% to 680,000-730,000 ounces by 2027.
In January 2025, AGI announced the construction of its Lynn Lake project, with production ramp-up expected during the first half of 2028. This project is expected to boost Alamos Gold’s consolidated production to 900,000 ounces per year and drive the free cash flow.
Uptick in Metal Prices: Gold prices were on an uptrend in 2024, which continued in 2025. Several factors have contributed to this upward trajectory, including increased geopolitical tensions, a depreciating U.S. dollar, the potential for monetary policy easing and continuous purchasing by central banks. The yellow metal broke through the $2,900-per-ounce threshold for the first time on Feb. 10 and is currently around $2,910. This is fueled by safe-have demand amid escalating global trade tensions.
Silver prices are around $32 per ounce, backed by expectations of steady demand for the metal in the electrification industry and recent expansion noted in the manufacturing sector. This pickup in the prices of gold and silver is likely to improve Alamos Gold’s results in the upcoming quarters.
AGI’s Stock Price Performance
The company’s shares have gained 73.8% in a year compared with the industry’s growth of 38.8%.
Carpenter Technology has an average trailing four-quarter earnings surprise of 15.7%. The Zacks Consensus Estimate for CRS’ 2025 earnings is pegged at $6.95 per share. CRS shares skyrocketed 170.3% in the last year.
ArcelorMittal has an average trailing four-quarter earnings surprise of 4.1%. The Zacks Consensus Estimate for MT’s 2025 earnings is pegged at $3.72 per share. Its shares rose 28.9% in the last year.
SSR Mining has an average trailing four-quarter earnings surprise of 155.6%. The Zacks Consensus Estimate for SSRM’s 2025 earnings is pegged at 85 cents per share. SSRM shares soared 127.3% in the last year.
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Alamos Gold Stock Hits 52-Week High: What's Driving Its Performance?
Shares of Alamos Gold Inc. (AGI - Free Report) scaled a new 52-week high of $24.59 on Friday before ending the session slightly lower at $23.77. The increase was fueled by rising gold prices and AGI’s solid fourth-quarter results.
Alamos Gold currently has a market capitalization of $10.05 billion and a Zacks Rank #3 (Hold).
What’s Aiding Alamos Gold Stock?
Solid Q4 & 2024 Results: AGI posted adjusted earnings of 25 cents per share in the fourth quarter of 2024, beating the Zacks Consensus Estimate of 21 cents. The bottom line surged 108% year over year. Revenues increased 47.6% year over year to a record $376 million in the fourth quarter of 2024.
Alamos Gold posted adjusted earnings of 81 cents per share in 2024, beating the Zacks Consensus Estimate of 80 cents. The company reported earnings of 53 cents in 2023. Revenues increased 31.6% year over year to a record $1.35 billion in 2024. The figure beat the Zacks Consensus Estimate of $1.34 billion. Gains from the acquisition of the Magino mine in July 2024, and strong ongoing performances from Island Gold and the Mulatos District mine drove the upside.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Strong Financial Position: Net cash from operating activities was a record $661 million in 2024, up from $473 million in the prior year. Cash and cash equivalents were $327 million as of Dec. 31, 2024, up from $225 million as of Dec. 31, 2023.
Upbeat Outlook: The company expects gold production of 580,000-630,000 ounces for 2025, considering the ramp-up of production at Island Gold mine and a full year of operation at Magino. This indicates a 7% increase at the mid-point from the 2024’s reported figure.
The company expects production to rise 24% to 680,000-730,000 ounces by 2027.
In January 2025, AGI announced the construction of its Lynn Lake project, with production ramp-up expected during the first half of 2028. This project is expected to boost Alamos Gold’s consolidated production to 900,000 ounces per year and drive the free cash flow.
Uptick in Metal Prices: Gold prices were on an uptrend in 2024, which continued in 2025. Several factors have contributed to this upward trajectory, including increased geopolitical tensions, a depreciating U.S. dollar, the potential for monetary policy easing and continuous purchasing by central banks. The yellow metal broke through the $2,900-per-ounce threshold for the first time on Feb. 10 and is currently around $2,910. This is fueled by safe-have demand amid escalating global trade tensions.
Silver prices are around $32 per ounce, backed by expectations of steady demand for the metal in the electrification industry and recent expansion noted in the manufacturing sector. This pickup in the prices of gold and silver is likely to improve Alamos Gold’s results in the upcoming quarters.
AGI’s Stock Price Performance
The company’s shares have gained 73.8% in a year compared with the industry’s growth of 38.8%.
Stocks to Consider
Some better-ranked stocks from the basic materials space are Carpenter Technology Corporation (CRS - Free Report) , SSR Mining Inc. (SSRM - Free Report) and ArcelorMittal S.A. (MT - Free Report) . These three stocks carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Carpenter Technology has an average trailing four-quarter earnings surprise of 15.7%. The Zacks Consensus Estimate for CRS’ 2025 earnings is pegged at $6.95 per share. CRS shares skyrocketed 170.3% in the last year.
ArcelorMittal has an average trailing four-quarter earnings surprise of 4.1%. The Zacks Consensus Estimate for MT’s 2025 earnings is pegged at $3.72 per share. Its shares rose 28.9% in the last year.
SSR Mining has an average trailing four-quarter earnings surprise of 155.6%. The Zacks Consensus Estimate for SSRM’s 2025 earnings is pegged at 85 cents per share. SSRM shares soared 127.3% in the last year.