Alamos Gold (AGI.TO, AGI) was last seen down 8.8% in after-hours New York trading after the company on Wednesday reported higher first-quarter adjusted earnings and operating revenue.
The company's adjusted profit, excluding most one-time items, rose to US$59.8 million, or US$0.14 per share, from US$51.2 million, or US$0.13 per basic share, in the prior year period.
Operating revenue rose to US$333 million, from US$277.6 million. The company sold 117,583 ounces of gold at an average realized price of US$2,802 per ounce, generating quarterly revenues of US$333 million.
Alamos gold produced 125,000 ounces of gold, at the low end of quarterly guidance, and lower than last year's production of 135,700 ounces. The company says stronger production is expected in the second quarter and the remainder of the year, and it remains on track to achieve full year production guidance.
The company's shares were last seen down US$2.51 to US$26.01 after hours. They closed up $0.50 to $39.41 on the Toronto Stock Exchange.
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