(Bloomberg ) – Alamos Gold Inc. (AGI) is the best-performing gold stock since the metal went into a accept market in April as the company advantages from reduced costs at its Mexican mine and a money pile that places it to purchase assets.
Alamos Gold said two acquisitions last month to add projects in Mexico and the U.S. The company with a market worth of C$2.18 billion ($2.08 billion) has capability for more deals and is concentrated on assets it can buy, construct and operate at low cost, said head Executive agent John McCluskey.
“We’re always looking, but we’re very much a value player,” McCluskey, 54, said in a phone interview August 26. “We are inclined to be active when there’s more market doubt and we tend to be hardworking when other ones are less hardworking.”
Alamos Gold has increased 39% since April 11, the day before gold entered a accept market, the most amidst 39 global gold miners bigger than $1 billion. (According to data by Bloomberg) The Toronto-based company’s reduced output charges; powerful balance sheet and ability to pay for its growth internally make it a “preferred title” amidst precious metals supplies, Dan Rollins, an analyst at regal Bank of Canada, documented August 12.
Twelve analysts encompassing Rollins recommend buying the supply, while there are five hold and no deal ratings. (According to data by Bloomberg) Alamos Gold increased 0.7% to come to C$17.23 at 9:24 a.m. in Toronto Thursday.