Intrinsic value of Alamos Gold - AGI

Previous Close

$4.64

  Intrinsic Value

$1.72

stock screener

  Rating & Target

str. sell

-63%

Previous close

$4.64

 
Intrinsic value

$1.72

 
Up/down potential

-63%

 
Rating

str. sell

We calculate the intrinsic value of AGI stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  12.60
  11.84
  11.16
  10.54
  9.99
  9.49
  9.04
  8.64
  8.27
  7.94
  7.65
  7.38
  7.15
  6.93
  6.74
  6.56
  6.41
  6.27
  6.14
  6.03
  5.92
  5.83
  5.75
  5.67
  5.61
  5.55
  5.49
  5.44
  5.40
  5.36
Revenue, $m
  611
  684
  760
  840
  924
  1,011
  1,103
  1,198
  1,297
  1,400
  1,507
  1,619
  1,734
  1,855
  1,980
  2,109
  2,245
  2,385
  2,532
  2,684
  2,843
  3,009
  3,182
  3,363
  3,551
  3,748
  3,954
  4,169
  4,394
  4,630
Variable operating expenses, $m
  260
  291
  323
  357
  393
  430
  469
  509
  551
  595
  641
  688
  737
  788
  841
  897
  954
  1,014
  1,076
  1,141
  1,208
  1,279
  1,352
  1,429
  1,509
  1,593
  1,680
  1,772
  1,868
  1,968
Fixed operating expenses, $m
  268
  274
  280
  286
  292
  299
  305
  312
  319
  326
  333
  340
  348
  355
  363
  371
  379
  388
  396
  405
  414
  423
  432
  442
  451
  461
  471
  482
  492
  503
Total operating expenses, $m
  528
  565
  603
  643
  685
  729
  774
  821
  870
  921
  974
  1,028
  1,085
  1,143
  1,204
  1,268
  1,333
  1,402
  1,472
  1,546
  1,622
  1,702
  1,784
  1,871
  1,960
  2,054
  2,151
  2,254
  2,360
  2,471
Operating income, $m
  84
  119
  157
  197
  239
  283
  329
  377
  427
  479
  534
  591
  650
  711
  775
  842
  911
  984
  1,060
  1,139
  1,221
  1,307
  1,398
  1,492
  1,591
  1,694
  1,802
  1,915
  2,034
  2,159
EBITDA, $m
  225
  277
  333
  391
  453
  517
  584
  654
  727
  803
  883
  965
  1,051
  1,140
  1,233
  1,330
  1,431
  1,536
  1,645
  1,760
  1,879
  2,003
  2,134
  2,270
  2,412
  2,561
  2,717
  2,880
  3,051
  3,230
Interest expense (income), $m
  0
  0
  5
  10
  15
  20
  26
  32
  38
  44
  51
  58
  65
  73
  80
  89
  97
  106
  115
  124
  134
  144
  155
  166
  178
  190
  202
  216
  230
  244
  259
Earnings before tax, $m
  83
  114
  147
  182
  219
  257
  297
  339
  383
  428
  476
  525
  577
  631
  687
  745
  806
  869
  935
  1,005
  1,077
  1,152
  1,232
  1,314
  1,401
  1,491
  1,586
  1,686
  1,790
  1,900
Tax expense, $m
  22
  31
  40
  49
  59
  69
  80
  92
  103
  116
  128
  142
  156
  170
  185
  201
  218
  235
  253
  271
  291
  311
  333
  355
  378
  403
  428
  455
  483
  513
Net income, $m
  61
  83
  108
  133
  160
  188
  217
  247
  279
  313
  347
  383
  421
  460
  501
  544
  588
  635
  683
  733
  786
  841
  899
  959
  1,023
  1,089
  1,158
  1,231
  1,307
  1,387

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  3,574
  3,997
  4,443
  4,912
  5,402
  5,915
  6,449
  7,006
  7,586
  8,188
  8,815
  9,466
  10,142
  10,845
  11,576
  12,336
  13,127
  13,949
  14,806
  15,698
  16,628
  17,598
  18,610
  19,665
  20,768
  21,920
  23,123
  24,382
  25,698
  27,075
Adjusted assets (=assets-cash), $m
  3,574
  3,997
  4,443
  4,912
  5,402
  5,915
  6,449
  7,006
  7,586
  8,188
  8,815
  9,466
  10,142
  10,845
  11,576
  12,336
  13,127
  13,949
  14,806
  15,698
  16,628
  17,598
  18,610
  19,665
  20,768
  21,920
  23,123
  24,382
  25,698
  27,075
Revenue / Adjusted assets
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
Average production assets, $m
  2,629
  2,941
  3,269
  3,613
  3,974
  4,351
  4,744
  5,154
  5,580
  6,024
  6,485
  6,963
  7,461
  7,978
  8,516
  9,075
  9,657
  10,262
  10,892
  11,548
  12,232
  12,946
  13,690
  14,467
  15,278
  16,125
  17,010
  17,936
  18,904
  19,917
Working capital, $m
  121
  135
  150
  166
  183
  200
  218
  237
  257
  277
  298
  320
  343
  367
  392
  418
  444
  472
  501
  532
  563
  596
  630
  666
  703
  742
  783
  826
  870
  917
Total debt, $m
  87
  171
  259
  352
  449
  550
  656
  766
  881
  1,000
  1,124
  1,253
  1,387
  1,526
  1,671
  1,822
  1,978
  2,141
  2,311
  2,487
  2,672
  2,864
  3,064
  3,273
  3,491
  3,719
  3,958
  4,207
  4,467
  4,740
Total liabilities, $m
  708
  791
  880
  973
  1,070
  1,171
  1,277
  1,387
  1,502
  1,621
  1,745
  1,874
  2,008
  2,147
  2,292
  2,443
  2,599
  2,762
  2,932
  3,108
  3,292
  3,484
  3,685
  3,894
  4,112
  4,340
  4,578
  4,828
  5,088
  5,361
Total equity, $m
  2,867
  3,206
  3,564
  3,939
  4,333
  4,744
  5,172
  5,619
  6,084
  6,567
  7,070
  7,592
  8,134
  8,698
  9,284
  9,894
  10,528
  11,187
  11,874
  12,590
  13,336
  14,114
  14,925
  15,772
  16,656
  17,580
  18,545
  19,554
  20,610
  21,714
Total liabilities and equity, $m
  3,575
  3,997
  4,444
  4,912
  5,403
  5,915
  6,449
  7,006
  7,586
  8,188
  8,815
  9,466
  10,142
  10,845
  11,576
  12,337
  13,127
  13,949
  14,806
  15,698
  16,628
  17,598
  18,610
  19,666
  20,768
  21,920
  23,123
  24,382
  25,698
  27,075
Debt-to-equity ratio
  0.030
  0.050
  0.070
  0.090
  0.100
  0.120
  0.130
  0.140
  0.140
  0.150
  0.160
  0.170
  0.170
  0.180
  0.180
  0.180
  0.190
  0.190
  0.190
  0.200
  0.200
  0.200
  0.210
  0.210
  0.210
  0.210
  0.210
  0.220
  0.220
  0.220
Adjusted equity ratio
  0.802
  0.802
  0.802
  0.802
  0.802
  0.802
  0.802
  0.802
  0.802
  0.802
  0.802
  0.802
  0.802
  0.802
  0.802
  0.802
  0.802
  0.802
  0.802
  0.802
  0.802
  0.802
  0.802
  0.802
  0.802
  0.802
  0.802
  0.802
  0.802
  0.802

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  61
  83
  108
  133
  160
  188
  217
  247
  279
  313
  347
  383
  421
  460
  501
  544
  588
  635
  683
  733
  786
  841
  899
  959
  1,023
  1,089
  1,158
  1,231
  1,307
  1,387
Depreciation, amort., depletion, $m
  141
  158
  176
  194
  214
  234
  255
  277
  300
  324
  349
  374
  401
  429
  458
  488
  519
  552
  586
  621
  658
  696
  736
  778
  821
  867
  915
  964
  1,016
  1,071
Funds from operations, $m
  202
  242
  283
  327
  373
  422
  472
  525
  579
  637
  696
  758
  822
  889
  959
  1,032
  1,107
  1,186
  1,268
  1,354
  1,444
  1,537
  1,635
  1,737
  1,844
  1,956
  2,073
  2,195
  2,323
  2,458
Change in working capital, $m
  14
  14
  15
  16
  17
  17
  18
  19
  20
  20
  21
  22
  23
  24
  25
  26
  27
  28
  29
  30
  31
  33
  34
  36
  37
  39
  41
  43
  45
  47
Cash from operations, $m
  189
  227
  268
  311
  357
  404
  454
  506
  560
  616
  675
  736
  799
  865
  934
  1,006
  1,081
  1,158
  1,239
  1,324
  1,412
  1,505
  1,601
  1,701
  1,807
  1,917
  2,032
  2,152
  2,279
  2,411
Maintenance CAPEX, $m
  -126
  -141
  -158
  -176
  -194
  -214
  -234
  -255
  -277
  -300
  -324
  -349
  -374
  -401
  -429
  -458
  -488
  -519
  -552
  -586
  -621
  -658
  -696
  -736
  -778
  -821
  -867
  -915
  -964
  -1,016
New CAPEX, $m
  -294
  -311
  -328
  -345
  -361
  -377
  -393
  -410
  -426
  -443
  -461
  -479
  -498
  -517
  -538
  -559
  -582
  -605
  -630
  -656
  -684
  -713
  -744
  -777
  -811
  -847
  -885
  -926
  -968
  -1,013
Cash from investing activities, $m
  -420
  -452
  -486
  -521
  -555
  -591
  -627
  -665
  -703
  -743
  -785
  -828
  -872
  -918
  -967
  -1,017
  -1,070
  -1,124
  -1,182
  -1,242
  -1,305
  -1,371
  -1,440
  -1,513
  -1,589
  -1,668
  -1,752
  -1,841
  -1,932
  -2,029
Free cash flow, $m
  -231
  -225
  -218
  -209
  -198
  -187
  -173
  -159
  -144
  -127
  -110
  -92
  -73
  -53
  -32
  -11
  11
  34
  58
  82
  107
  133
  161
  189
  218
  248
  279
  312
  346
  382
Issuance/(repayment) of debt, $m
  79
  84
  88
  93
  97
  101
  106
  110
  115
  119
  124
  129
  134
  139
  145
  150
  157
  163
  170
  177
  184
  192
  200
  209
  218
  228
  238
  249
  261
  273
Issuance/(repurchase) of shares, $m
  254
  256
  250
  243
  234
  223
  212
  199
  185
  171
  155
  139
  121
  104
  85
  66
  46
  25
  4
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  333
  340
  338
  336
  331
  324
  318
  309
  300
  290
  279
  268
  255
  243
  230
  216
  203
  188
  174
  177
  184
  192
  200
  209
  218
  228
  238
  249
  261
  273
Total cash flow (excl. dividends), $m
  103
  114
  120
  126
  132
  138
  144
  150
  157
  163
  169
  176
  183
  190
  197
  205
  213
  222
  231
  259
  291
  325
  361
  398
  436
  476
  518
  561
  607
  654
Retained Cash Flow (-), $m
  -315
  -339
  -358
  -376
  -393
  -411
  -429
  -447
  -465
  -483
  -502
  -522
  -543
  -564
  -586
  -609
  -634
  -660
  -687
  -716
  -746
  -778
  -811
  -847
  -884
  -924
  -965
  -1,009
  -1,055
  -1,104
Prev. year cash balance distribution, $m
  130
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -82
  -225
  -237
  -249
  -261
  -273
  -284
  -296
  -308
  -321
  -333
  -346
  -360
  -374
  -389
  -404
  -421
  -438
  -456
  -457
  -454
  -452
  -450
  -449
  -448
  -448
  -448
  -448
  -449
  -450
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  -79
  -206
  -206
  -205
  -202
  -198
  -192
  -185
  -177
  -168
  -158
  -148
  -137
  -126
  -114
  -103
  -91
  -81
  -70
  -58
  -47
  -38
  -30
  -23
  -17
  -13
  -10
  -7
  -5
  -3
Current shareholders' claim on cash, %
  87.5
  77.6
  69.8
  63.7
  58.7
  54.7
  51.4
  48.7
  46.5
  44.7
  43.3
  42.1
  41.1
  40.4
  39.8
  39.4
  39.2
  39.1
  39.0
  39.0
  39.0
  39.0
  39.0
  39.0
  39.0
  39.0
  39.0
  39.0
  39.0
  39.0

Alamos Gold Inc. is a Canada-based company, which is engaged in the acquisition, exploration, development and extraction of precious metals. The Company's segments include Young-Davidson, Mulatos, El Chanate and Corporate/other. Its Corporate and other segment consists of exploration and development projects. The Company owns and operates the Young-Davidson mine in Canada and the Mulatos and El Chanate mines in Mexico. In addition, the Company owns the AgiDagi, Kirazli and Camyurt gold development projects in Turkey, the Lynn Lake gold project in Canada and the Esperanza gold project in Mexico. The Young-Davidson property consists of mineral leases and claims covering approximately 11,000 acres. The Mulatos mine is located within the Salamandra Concessions in the Sierra Madre Occidental mountain range in the east central portion of the State of Sonora, Mexico. The El Chanate mine is located in northeast of the town of Caborca in the state of Sonora, Mexico. _tck('aft');

FINANCIAL RATIOS  of  Alamos Gold (AGI)

Valuation Ratios
P/E Ratio 0
Price to Sales 0
Price to Book 0
Price to Tangible Book
Price to Cash Flow 0
Price to Free Cash Flow 0
Growth Rates
Sales Growth Rate -100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 0%
Ret/ On Assets - 3 Yr. Avg. 0%
Return On Total Capital 0%
Ret/ On T. Cap. - 3 Yr. Avg. 0%
Return On Equity 0%
Return On Equity - 3 Yr. Avg. 0%
Asset Turnover 0
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 0%
EBITDA Margin - 3 Yr. Avg. 0%
Operating Margin 0%
Oper. Margin - 3 Yr. Avg. 0%
Pre-Tax Margin 0%
Pre-Tax Margin - 3 Yr. Avg. 0%
Net Profit Margin 0%
Net Profit Margin - 3 Yr. Avg. 0%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

AGI stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the AGI stock intrinsic value calculation we used $542.8 million for the last fiscal year's total revenue generated by Alamos Gold. The default revenue input number comes from 0001 income statement of Alamos Gold. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our AGI stock valuation model: a) initial revenue growth rate of 12.6% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for AGI is calculated based on our internal credit rating of Alamos Gold, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Alamos Gold.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of AGI stock the variable cost ratio is equal to 42.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $262 million in the base year in the intrinsic value calculation for AGI stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.8% for Alamos Gold.

Corporate tax rate of 27% is the nominal tax rate for Alamos Gold. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the AGI stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for AGI are equal to 430.2%.

Life of production assets of 18.6 years is the average useful life of capital assets used in Alamos Gold operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for AGI is equal to 19.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $2681.2 million for Alamos Gold - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 389.38 million for Alamos Gold is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Alamos Gold at the current share price and the inputted number of shares is $1.8 billion.

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COMPANY NEWS

▶ Do You Know Who Else Invests In Alamos Gold Inc (TSE:AGI)?   [Sep-12-18 02:04PM  Simply Wall St.]
▶ Alamos Reports Second Quarter 2018 Results   [Aug-01-18 06:05PM  GlobeNewswire]
▶ Alamos Gold Receives GSM Permit for Kirazl Project   [Jul-25-18 02:20PM  GlobeNewswire]
▶ Flavor Of The Month: Alamos Gold And More   [Jun-02-18 12:02PM  Simply Wall St.]
▶ What Do Alamos Gold Inc (TSE:AGI) Insiders Know That You Dont?   [May-02-18 06:14PM  Simply Wall St.]
▶ Alamos Reports First Quarter 2018 Results   [May-01-18 05:10PM  GlobeNewswire]
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▶ Alamos Gold Declares Semi-Annual Dividend   [07:00AM  GlobeNewswire]
▶ Alamos Gold reports 4Q loss   [Feb-22-18 09:09AM  Associated Press]
▶ Alamos Gold Files Early Warning Report   [Feb-16-18 07:03PM  GlobeNewswire]
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▶ Alamos Reports Third Quarter 2017 Results   [Nov-02-17 06:00AM  Marketwired]
▶ Reading Key Mining Stock Movements at the End of October   [Nov-01-17 01:27PM  Market Realist]
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▶ Alamos Gold Reports Record Third Quarter 2017 Production   [Oct-12-17 06:00AM  Marketwired]
▶ What Led to the Slump of Precious Metals on October 2?   [Oct-04-17 07:44AM  Market Realist]
▶ Alamos Gold Declares Semi-Annual Dividend   [Sep-29-17 07:00AM  Marketwired]
▶ How Gold and Platinum Are Moving in Tandem   [01:10PM  Market Realist]
▶ Where Analysts See Gold Prices Reaching by the End of 2017   [Sep-20-17 08:06AM  Market Realist]
▶ Why Most Mining Stocks Fell on Friday   [Sep-19-17 08:09AM  Market Realist]
▶ Do Newmont Minings Latest Ratings Show Analyst Optimism?   [Sep-18-17 10:39AM  Market Realist]
▶ An Overview of Mining Shares Movement in September 2017   [Sep-13-17 07:41AM  Market Realist]
▶ Why Alamos Gold Stock Just Crashed 16%   [Sep-11-17 02:43PM  Motley Fool]
▶ Here's Why Alamos Gold Climbed 18% in August   [Sep-09-17 01:07PM  Motley Fool]
▶ A Look at Mining Stocks Correlation with Gold   [Sep-07-17 04:06PM  Market Realist]

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