Insider Selling: Amerigo Resources (TSE:ARG) Director Sells 45,000 Shares of Stock

Amerigo Resources Ltd. (TSE:ARG) Director George Ireland sold 45,000 shares of the firm’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of C$8.76, for a total value of C$394,200.00. Following the sale, the director directly owned 10,172,156 shares of the company’s stock, valued at C$89,108,086.56. This represents a 0.44% decrease in their ownership of the stock.

Amerigo Resources Stock Performance

Amerigo Resources stock traded down C$0.29 on Monday, reaching C$8.64. The company’s stock had a trading volume of 877,464 shares, compared to its average volume of 914,692. The company has a market cap of C$1.39 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 0.32 and a beta of 2.15. The business’s fifty day moving average price is C$7.84 and its 200 day moving average price is C$6.71. Amerigo Resources Ltd. has a twelve month low of C$2.42 and a twelve month high of C$8.93.

Amerigo Resources (TSE:ARG) last announced its earnings results on Wednesday, July 29th. The company reported C$0.16 earnings per share for the quarter. The company 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%. As a group, equities analysts forecast that Amerigo Resources Ltd. will post 0.2850394 earnings per share for the current year.

Amerigo Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 18th were given a dividend of $0.04 per share. The ex-dividend date was Friday, August 28th. This represents a $0.16 dividend on an annualized basis and a yield of 1.9%. Amerigo Resources’s dividend payout ratio is presently 77.12%.

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.