Gold Mining Stocks Surge with Dividends and Share Buybacks, Market Cap Increases by 1.6 Trillion Won in a Day

Canadian gold miner Alamos Gold Inc. (NYSE: AGI) saw its shares surge 6.93% in the most recent trading session on the New York Stock Exchange, closing at $37.64. Trading volume exceeded 2.46 million shares, and its market capitalization climbed by about $1.18 billion—reaching roughly $15.8 billion (approximately ₩21 trillion) in a single day.

On May 28, the company declared a quarterly dividend of $0.04 per share and launched a normal course issuer bid to repurchase approximately 750,000 shares for around $30 million (about ₩400 billion), further enhancing shareholder returns. So far this year, dividends and buybacks have returned $63.6 million (roughly ₩900 billion) to shareholders. In the first quarter, Alamos produced 123,900 ounces of gold, although its earnings fell slightly short of market expectations.

Headquartered in Canada, Alamos Gold is a mid-tier gold producer operating the Island Gold District and Young-Davidson mine in Ontario, as well as the Mulatos mine in Sonora, Mexico. Through the Island Gold expansion and the Lynn Lake project in Manitoba, the company aims to significantly boost production by 2028 and target an annual output of about one million ounces by around 2030.