Alamos Gold Reports Record Quarterly Revenue of $596.7 Million
The gold producer saw operating revenues rise 79% compared to the first quarter of 2025.
Alamos Gold Inc. (AGI), a Canadian-based intermediate gold producer, reported record quarterly revenues of $596.7 million for the three months ended March 31, 2026. The company sold 121,924 ounces of gold at an average realized price of $4,829 per ounce. This result marked the fourth consecutive quarter of record revenues for the company.
Net earnings for the period rose to $191.4 million, compared to $15.2 million in the first quarter of 2025. Earnings from operations climbed to $344.8 million from $94.7 million in the prior-year period. The company reported cash provided by operating activities of $242.5 million, an increase from $79.6 million in the same quarter last year.
Cost of sales for the quarter were $205.5 million, or $1,685 per ounce. Total cash costs were $1,230 per ounce and all-in sustaining costs were $1,862 per ounce. The company said these figures were above the top end of guidance for the first half of 2026.
Production for the quarter totaled 123,900 ounces of gold. The company said results from the Island Gold District offset lower than planned production at the Young-Davidson mine. Underground mining rates at Island Gold reached a new record, while milling rates at Magino increased following the implementation of improvements.
Capital expenditures for mineral property, plant and equipment totaled $183.5 million during the quarter, compared to $99.7 million in the first quarter of 2025. The company ended the period with $659.5 million in cash and cash equivalents.
Alamos expects all three of its operations to contribute to a 20% increase in production in the second quarter. The company expects further growth into the second half of the year at substantially lower costs, driven by the ongoing ramp up of mining rates at Island Gold.