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Currently, many gold stocks are trading at a discounted value due to the dip in gold prices. However, the precious metal often grabs the attention of investors when there is uncertainty looming over the equity market. And as coronavirus cases continue to rise, some investors may seek out the refuge of the safe asset once again.
On Wednesday, April 28, gold mining companies Alamos Gold Inc (TSX:AGI) and Yamana Gold Inc (TSX:YRI) grabbed some attention with their first quarter fiscal 2021 results. Let's dive in to check their stock performances and latest financials.
Yamana Gold Inc (TSX:YRI)
The Toronto-based mining company explores gold, silver and copper in four countries. Its Wasamac project is said to have mineral reserves of about 1.8 million ounces of gold.
Yamana Gold's market cap is over C$ 5 billion and it distributes a quarterly dividend of US$ 0.026, which has a current dividend yield of 2.212 per cent, as per TMX.
In Q1 FY21, Yamana achieved a revenue of US$ 422 million, up from that of US$ 356.5 million in Q1 FY20.
Its net earnings in the latest quarter stood at US$ 52.3 million, an increase of US$ 7.3 million from the first quarter of 2020. Yamana’s cash and cash equivalents increased to US$ 678.1 million in Q1 FY21.
Yamana stock is down by 19 per cent year-to-date (YTD), but it shot up by about five per cent in a month.
1-year chart of stock performance of Yamana Gold (Source: Refinitiv/Thomson Reuters)
Alamos Gold Inc (TSX:AGI)
The precious metal producer, which operates in Canada and Mexico, recently announced additional investment in Manitou Gold Inc (TSXV:MTU) after it purchased 15.9 million common shares of the micro-cap company.
Alamos Gold’s market cap stands at nearly C$ 4 billion. Its quarterly dividend, currently at US$ 0.025, grew at the rate of 52.6 per cent in the past three years, as per the data from TMX.
Alamos’s operating revenue amounted to US$ 227.4 million in the first quarter ending March 31, 2021, up from US$ 176.9 million in Q1 2020. The company posted net earnings of US$ 51.2 million in Q1 2021, as against a net loss of US$ 12.3 million in Q1 2020.
Alamos stock grew by about three per cent in a month and by about five per cent quarter-to-date (QTD).
1-year chart of stock performance of Alamos Gold (Source: Refinitiv/Thomson Reuters)
The above constitutes a preliminary view and any interest in stocks should be evaluated further from an investment point of view.