Amerigo Resources (TSE:ARG) Hits New 52-Week High – What’s Next?

Amerigo Resources Ltd. (TSE:ARG)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as C$8.93 and last traded at C$8.59, with a volume of 351791 shares changing hands. The stock had previously closed at C$8.93.

Amerigo Resources Price Performance

The stock’s 50-day moving average is C$7.82 and its two-hundred day moving average is C$6.69. The stock has a market cap of C$1.37 billion, a P/E ratio of 24.91, a price-to-earnings-growth ratio of 0.32 and a beta of 2.15.

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

Amerigo Resources Cuts Dividend

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

Insiders Place Their Bets

In other Amerigo Resources news, Director Aurora Davidson sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of C$8.08, for a total transaction of C$64,640.00. Following the sale, the director directly owned 1,623,554 shares in the company, valued at C$13,118,316.32. This represents a 0.49% decrease in their ownership of the stock. Insiders sold 140,000 shares of company stock worth $1,121,218 over the last quarter. Insiders own 12.95% of the company’s stock.

Amerigo Resources Company Profile

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.