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

ALAMOS GOLD INC (AGI)
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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

(Reuters) - 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.

(Reuters) - 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.
Stocks mentioned in the article
ChangeLast1st jan.
ALAMOS GOLD INC 1.11% 7.26 Delayed Quote.-12.33%
GOLD -0.34% 1219.22 Delayed Quote.-5.79%
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Financials ($)
Sales 2018 676 M
EBIT 2018 83,2 M
Net income 2018 48,4 M
Finance 2018 259 M
Yield 2018 0,36%
P/E ratio 2018 54,30
P/E ratio 2019 25,88
EV / Sales 2018 2,86x
EV / Sales 2019 2,80x
Capitalization 2 191 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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TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 8,97 $
Spread / Average Target 65%
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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