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

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

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09/11/2017 | 04:39pm CEST

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.
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09/11 Midday Gainers / Losers
Financials ($)
Sales 2017 528 M
EBIT 2017 57,2 M
Net income 2017 23,5 M
Debt 2017 -
Yield 2017 0,27%
P/E ratio 2017 80,41
P/E ratio 2018 39,34
Capi. / Sales 2017 3,96x
Capi. / Sales 2018 3,82x
Capitalization 2 091 M
Chart ALAMOS GOLD INC
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Alamos Gold Inc Technical Analysis Chart | AGI | CA0115321089 | 4-Traders
Technical analysis trends ALAMOS GOLD INC
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 10,2 $
Spread / Average Target 47%
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
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