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Investing.com -- Alamos Gold Inc (NYSE:AGI) reported fourth-quarter earnings and revenue that topped analyst estimates, sending shares up more than 3% after Thursday’s market open.
The gold miner posted adjusted earnings per share of $0.25, beating the consensus forecast of $0.23. Revenue came in at $375.8 million, ahead of expectations for $375 million.
Alamos produced 140,200 ounces of gold in Q4, in line with its quarterly guidance. Full-year 2024 production reached a record 567,000 ounces, up 7% from 2023 and meeting the company’s increased guidance.
"We delivered another record year operationally and financially driven by strong performances across our operations," said John A. McCluskey, President and CEO. "Production grew 7% to 567,000 ounces, meeting our increased guidance and achieving a new annual record for the second consecutive year."
Total (EPA:TTEF) cash costs were $981 per ounce in Q4, while all-in sustaining costs were $1,333 per ounce. For the full year, cash costs averaged $927 per ounce and AISC was $1,281 per ounce, in line with revised annual guidance.
The company generated a record free cash flow of $272.3 million in 2024 while funding growth initiatives. Q4 free cash flow was $53.5 million.
Alamos ended the year with $327.2 million in cash and cash equivalents, up from $224.8 million at the end of 2023.
Looking ahead, the company expects 2025 production to increase 7% to between 580,000 and 630,000 ounces.
Shares of Alamos Gold rose 0.9% in after-hours trading following the earnings release.
Luke Juricic contributed to this report.