Alamos Gold Q1 Profit Surges 65%

Alamos Gold Inc

posted a 65% rise in its first-quarter profit. Alamos Gold's quarterly net income climbed to $29.5 million, or $0.24 per share, versus $17.9 million, or $0.15 per share, in the year-ago period. Its revenue jumped 29% to $70.3 million. Alamos Gold's production gained 8% to 40,500 ounces of gold. However, gold prices jumped 22% to average $1,690 per ounce. Alamos Gold shares closed at $18.19 yesterday.