Q: Thoughts on the last quarter and prospects going forward, for gold exposure how would you rank this company overall? If not your favorite I'd appreciate some names. For fun, whats your crystal ball say the gold price will be at year end?
5i Research Answer:
We might expect $2,600 for gold at year end, perhaps higher if US interest rates actually do come down at all. For AGI, EPS of 13 cents was in line with estimates. Revenue of $277.6M was 3.3% better than estimates. Revenue rose 10%. 2024 production guidance was affirmed at 485,000 to 525,000 ounces. Production rose 6% in Q1. All-in costs were $1,265/ounce. Costs were higher largely due to higher non-cash share based compensation charges, reflecting the gain in the stock. We like it, and would consider it in the top tier along with FNV and AEM. It is buying AR which may make shares volatile for a while.