Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Toronto Stock Exchange  >  Alamos Gold Inc    AGI   CA0115321089

SummaryChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Alamos Gold : Canada's Alamos Gold buys Richmont in a deal valued at C$905 million

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/11/2017 | 04:39pm CET

Canada's Alamos Gold Inc (>> Alamos Gold Inc) will buy smaller rival Richmont Mines Inc (>> Richmont Mines Inc.) in a deal valued at about C$905 million ($747 million) to create a top-10 gold producer in North America.

Canada's Alamos Gold Inc (>> Alamos Gold Inc) <AGI.N> will buy smaller rival Richmont Mines Inc (>> Richmont Mines Inc.) <RIC.N> in a deal valued at about C$905 million ($747 million) to create a top-10 gold producer in North America.

Richmont shareholders will receive 1.385 Alamos share for each share held, or C$14.20, representing a 22 percent premium to Richmont's last close.

Shares of Alamos slumped 12 percent to C$9.02 on the Toronto Stock Exchange in early trading, while Richmont surged 6.7 percent C$12.40.

The combined company, which will have majority of its production in Canada, is expected to produce 500,000 ounces of gold in 2017, the companies said in a statement.

The deal includes Richmont's flagship Island Gold Mine in Ontario, known for its high-grade yield and low cost. As a result, Alamos's production is expected to increase at an average of 25 percent annually.

Upon completion of the deal, which is expected by mid-November, Alamos will own 77 percent of the combined company and Richmont the rest.

BMO Capital Markets was Alamos' financial adviser, while Macquarie Capital Markets Canada Ltd and Maxit Capital LP advised Richmont.

(Reporting by Ahmed Farhatha in Bengaluru; Editing by Maju Samuel)

Stocks treated in this article : Alamos Gold Inc, Richmont Mines Inc.
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ALAMOS GOLD INC
11/16 ALAMOS GOLD : Acquisition of Richmont Mines Receives Overwhelming Shareholder Ap..
11/10 Centerra Gold Announces Friendly Acquisition of AuRico Metals
11/08 ALAMOS GOLD : Leading Independent Proxy Advisory Firms Recommend Alamos and Rich..
11/07 ALAMOS GOLD : Reports Third Quarter 2017 Results
11/06 ALAMOS GOLD : Leading Independent Proxy Advisory Firms Recommend Alamos and Rich..
11/06 ALAMOS GOLD : Leading Independent Proxy Advisory Firms Recommend Alamos and Rich..
11/02 ALAMOS GOLD INC. (NYSE : AGI) reported earnings of $0.10 per share beating Walls..
11/02 ALAMOS GOLD : beats 3Q profit forecasts
11/02 ALAMOS GOLD : Reports Third Quarter 2017 Results
10/26 ALAMOS GOLD : and Richmont Mines Announce Receipt of Interim Court Order, Specia..
More news
News from SeekingAlpha
11/10 COMMODITIES EXPERIMENT PART 1 : Gold On The Ceiling
11/08 CENTERRA GOLD TO ACQUIRE AURICO META : Who Is The Winner?
11/05 Alamos Gold's (AGI) CEO John McCluskey on Q3 2017 Results - Earnings Call Tra..
11/02 Alamos Gold beats by $0.06, misses on revenue
10/31 Will Alamos Gold Surprise Investors In 4Q2017?
Financials ($)
Sales 2017 530 M
EBIT 2017 51,8 M
Net income 2017 24,0 M
Debt 2017 -
Yield 2017 0,32%
P/E ratio 2017 53,79
P/E ratio 2018 49,49
Capi. / Sales 2017 3,51x
Capi. / Sales 2018 3,10x
Capitalization 1 860 M
Chart ALAMOS GOLD INC
Duration : Period :
Alamos Gold Inc Technical Analysis Chart | AGI | CA0115321089 | 4-Traders
Technical analysis trends ALAMOS GOLD INC
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 9,71 $
Spread / Average Target 57%
EPS Revisions
Managers
NameTitle
John A. McCluskey President, Chief Executive Officer & Director
Paul J. Murphy Chairman
Peter K. MacPhail Chief Operating Officer
Jamie R. Porter Chief Financial Officer
Chris J. Bostwick Vice President-Technical Services
Sector and Competitors
1st jan.Capitalization (M$)
ALAMOS GOLD INC-15.61%1 860
NEWMONT MINING CORP5.90%19 248
SAUDI ARABIAN MINING COMPANY (MA'ADEN)--.--%17 512
BARRICK GOLD CORP-17.63%16 239
NEWCREST MINING LIMITED15.56%13 706
POLYUS PAO--.--%11 325