Mexican tax charge hits Alamos Gold's Q3 profit
The miner's earnings for the quarter to end September fell 73%, to $5.4m, dented partly by a tax charge related to a weaker Mexican peso.
Canadian gold miner Alamos Gold posted a 73 percent drop in third-quarter profit, dented partly by a tax charge related to the weaker Mexican peso.
July-September earnings fell to $5.4 million, or 5 cents a share, from $20.5 million, or 17 cents a share, a year ago.
Third-quarter production was 33,000 ounces of gold, up from 30,200 ounces a year ago. Last month, Alamos said production at its flagship Mulatos mine in Mexico was up 9 percent.
Alamos backed its full-year production target of 145,000-160,000 ounces at a cash operating cost of $365-$390 per ounce.
Shares of the Toronto, Ontario-based company closed at C$18.64 on Wednesday on the Toronto Stock Exchange.