March 16, 2010 / 10:44 AM / 8 years ago

UPDATE 1-Alamos Gold Q4 results beat estimates

* Q4 EPS $0.18 vs est $0.17

* Q4 rev $52.6 mln vs est $51 mln

* Q4 gold production 48,000 oz

March 16 (Reuters) - Alamos Gold Inc (AGI.TO) reported quarterly results that narrowly beat analysts’ estimates, as the Canadian miner was helped by higher production and lower costs at its key Mexican mine.

For the fourth quarter, the company earned $20.1 million, or 18 cents a share, up from $9.1 million, or 10 cents a share, a year ago.

Excluding items, it earned 27 cents per basic share.

Revenue was up 62 percent to $52.6 million, on gold sales of 49,145 ounces.

“The rise in revenues is attributable to a combination of a 17 percent increase in the number of ounces sold and a 10 percent increase in the average realized gold price,” the company said.

The company produced 48,000 ounces of gold with total cash cost of $320 per ounce of gold sold.

Alamos shares closed at C$13.76 Monday on the Toronto Stock Exchange. (Reporting by Ashutosh Joshi in Bangalore; Editing by Ratul Ray Chaudhuri)

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