Alacer Gold Corp (AQG)

Welcome to InvestSMART

You are currently viewing our site as a guest, which gives you limited access to our site features. By signing up for a free membership, you will receive our Investment Opportunity newsletters and have access to additional features for finding and comparing managed funds and shares. Registration is fast and simple, so please:

Sign Up Today » it's FREE! Already a member? Login now!

General Information
Company Name: Alacer Gold Corp
Stock Code: AQG
GICS Sub-Industry: Gold
Market Cap ($M): 214
Equiv. Shares (M): 93

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 2.370 $ 2.360 $ 2.380 $ 2.340 $ 2.300 405,774 $ 0.070  3.043 %

Current Broker Consensus Recommendation more
Recommendation: Hold (3)
Recommendation Date: 12th Nov 2014
Brokers Surveyed: 2

Company Overview

Business Description:
Alacer Gold Corp (AQG) is mid-tier gold producer with a globally diversified asset portfolio, including interests in multiple operating mines which feed three regional processing facilities in Australia and Turkey.

Strategy Analysis:
AQG is a gold exploration and production company. Within this, the company has operations in Turkey whereby the mine, Copler, has had a ramp up in production towards 37,000oz. Complementing this has been the mines operating costs decreasing by $126/oz to $259/oz. On the domestic front, the company’s Higginsville operation has surpassed its 500,000 oz milestone and the company aims to consolidate this with a production target of 155koz @ $795/oz operating costs. It is said to be on target towards achieving the targeted 1.5Mtpa @ 4.5g/t. Alacer Gold Corp announced that it has filed its financial results and related management's discussion and analysis for the year ended December 31, 2012. The company's 2012 attributable net profit pre-impairment and other write-downs was $118.6m ($0.42/share). Cash generated by operating activities totalled $238.9m during the year and the company's cash balance at the end of 2012 increased to $277.3m. The company's attributable gold production totalled 381,738oz for 2012. In Turkey, Copler continues to provide significant free cash flow at an average total cash cost of $375/oz. In Australia, various initiatives to increase free cash flow will continue at both Higginsville and South Kalgoorlie operations.

Financial Summary
Year to Dec NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2015  F -- 7.0 -66.2 33.0 1.4 0.6 --
2014  F -- 20.6 -27.0 11.2 4.1 1.8 --
2013  A 114.6 28.2 -- 10.8 2.2 0.7 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2013 A 2014 F 2015 F 2013 A 2014 F 2015 F 2013 A 2014 F 2015 F
Alacer Gold (AQG) $214 M -- -0.3527 -0.5235 8.1531 12.5958 26.4368 0.97 0.91 0.31
Newcrest Mining (NCM) $7,634 M -0.0429 -0.2248 0.4715 17.6721 22.7970 15.4923 0.00 0.00 2.01
OceanaGold (OGC) $763 M -- -- -0.0380 -- 7.3912 7.6830 0.00 0.00 0.00
OZ Minerals (OZL) $1,153 M -- -- 0.1368 -- 73.2177 64.4068 5.26 5.26 3.97
Regis Resources (RRL) $795 M -- -- 0.8378 -- 12.2214 6.6499 0.00 NaN 5.64

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
AQG 3.00 10.79 1.13 10.00 1.58
Market 0.91 15.3 1.20 1.76 1.51
Sector 0.66 11.4 0.75 0.97 2.51

Name Position Start Date
Mr Rodney (Rod) P Antal Chief Executive Officer,Executive Director 13 August 2013
Mr Richard P Graff Non-Executive Director 24 July 2008
Mr Thomas R Bates, Jr Non-Executive Director 17 April 2014
Ms Anna Kolonchina Non-Executive Director 15 September 2014
Mr Alan Krusi Non-Executive Director 15 September 2014
Mr Edward C Dowling, Jr Non-Executive Director,Non-Executive Chairman 20 February 2008

Name Position
Howard Stevenson President, Chief Operating Officer
Mark E Murchison Chief Financial Officer
Michael Sparks General Counsel - Corporate,Company Secretary

Substantial Shareholders
Holding Name
57,556,147 (19.83%) Pala Investments Holding Ltd

Calendar of Events
Date Event
27 October 2015 Report (Quarterly)
29 July 2015 Report (Quarterly)
25 May 2015 Report (Annual)
28 April 2015 Report (Quarterly)
12 March 2015 Report (Annual)
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at


Trade Shares Online from $19.95^
Free Guides

The SMH Guide to Investing in Shares via SMSFs

An educational booklet that outlines how to get the most from your share investments for retirement thorugh your self managed super fund.

More details...


Australian Share Market - Close Up

CMC Markets 11/11/2014 | The Australian share market is in a decision zone - and trading from here may set the direction for the rest of the year.

Prices slashed - everything must go!

Nick Swales, Regional Director, Newcastle Office, Rathbones 27/10/2014 | “If you want to have a better performance than the crowd, you must do things differently from the crowd.” Sir John Templeton.

Aussie share market bulls now have company

Ric Spooner (Chief Market Analyst, CMC Markets) 20/10/2014 | Today, Australian investors will not have to go it alone buying stocks as they did for much of last week. Bargain hunters this morning will be supported by the morale boosting encouragement of a 3% turnaround in the German Dax and a 264 point rally in the Dow Jones.

The Importance of Ignoring the Noise of the Market

Carl Richards, director of investor education at the BAM Alliance 17/10/2014 | “As odd as it may sound, the sooner you start treating your investments like you treat life, the happier you’ll be with the outcome.”

You only dance twice

William H. Gross, Janus Capital Group 16/10/2014 | “Financial markets are artificially priced. In the bond market, there is nothing normal about a three year German Bund yielding “minus” 10 basis points.”

The Big Picture - Australia 200 Index

CMC Markets 8/10/2014 | Share market indices around the globe are breaking down. While analysts cast around for reasons, it’s clear that a time factor is in play. Simply put, many investors “feel” a correction is overdue. How low could it go?


Sponsored Links