Amerigo Resources (TSE:ARG) Sets New 12-Month High – Here’s What Happened

Amerigo Resources Ltd. (TSE:ARG)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as C$8.48 and last traded at C$8.47, with a volume of 83761 shares changing hands. The stock had previously closed at C$8.22.

Amerigo Resources Price Performance

The firm has a market capitalization of C$1.39 billion, a PE ratio of 25.29, a P/E/G ratio of 0.32 and a beta of 2.16. The business has a 50-day simple moving average of C$7.10 and a 200-day simple moving average of C$6.35.

Amerigo Resources (TSE:ARG) last announced its earnings results on Wednesday, July 29th. The company reported C$0.16 EPS for the quarter. The firm had revenue of C$109.93 million during the quarter. Amerigo Resources had a return on equity of 50.54% and a net margin of 18.55%. On average, research analysts expect that Amerigo Resources Ltd. will post 0.2850394 earnings per share for the current year.

Amerigo Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 18th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, August 28th. Amerigo Resources’s payout ratio is presently 77.12%.

Insider Activity

In related news, Director Aurora Davidson sold 4,600 shares of Amerigo Resources stock in a transaction dated Monday, August 17th. The shares were sold at an average price of C$7.59, for a total transaction of C$34,914.00. Following the completion of the sale, the director owned 1,551,446 shares in the company, valued at C$11,775,475.14. This trade represents a 0.30% decrease in their position. Also, Director Robert Gayton sold 40,000 shares of Amerigo Resources stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of C$7.91, for a total transaction of C$316,400.00. Following the sale, the director directly owned 173,457 shares of the company’s stock, valued at C$1,372,044.87. This represents a 18.74% decrease in their position. Over the last quarter, insiders sold 150,000 shares of company stock valued at $1,119,395. Company insiders own 12.95% of the company’s stock.

About Amerigo Resources

Amerigo is an innovative copper producer with a long-term relationship, through its fully-owned subsidiary Minera Valle Central (‘MVC’), with Corporación Nacional del Cobre de Chile (‘Codelco’), the world’s largest copper producer. Amerigo produces copper concentrate and molybdenum concentrate as a by-product at the MVC operation in Chile by processing fresh and historic tailings from Codelco’s El Teniente mine, the world’s largest underground copper mine.