Amerigo Resources (TSE:ARG) Reaches New 52-Week High Following Dividend Announcement

Amerigo Resources Ltd. (TSE:ARG) shares hit a new 52-week high during mid-day trading on Tuesday following a dividend announcement from the company. The stock traded as high as C$7.90 and last traded at C$7.73, with a volume of 262733 shares traded. The stock had previously closed at C$7.23.

The newly announced dividend which will be paid on Thursday, August 6th. Investors of record on Thursday, August 6th will be given a $0.18 dividend. The ex-dividend date is Monday, July 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 9.2%. This is a positive change from Amerigo Resources’s previous quarterly dividend of $0.04. Amerigo Resources’s dividend payout ratio is 49.30%.

Amerigo Resources Stock Performance

The business’s 50-day moving average is C$6.53 and its two-hundred day moving average is C$5.89. The firm has a market capitalization of C$1.27 billion, a price-to-earnings ratio of 27.96, a P/E/G ratio of 0.32 and a beta of 2.15.

Amerigo Resources (TSE:ARG) last issued its quarterly earnings data on Wednesday, April 29th. The company reported C$0.13 earnings per share (EPS) for the quarter. Amerigo Resources had a net margin of 15.26% and a return on equity of 42.44%. The firm had revenue of C$91.99 million during the quarter. Analysts forecast that Amerigo Resources Ltd. will post 0.2850394 EPS for the current year.

Insider Transactions at Amerigo Resources

In related news, Director Robert Gayton sold 50,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of C$7.29, for a total value of C$364,500.00. Following the completion of the sale, the director owned 143,740 shares in the company, valued at C$1,047,864.60. This represents a 25.81% decrease in their position. Also, insider Kimberly Thomas sold 8,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of C$7.07, for a total value of C$56,560.00. Following the sale, the insider directly owned 22,118 shares in the company, valued at C$156,374.26. The trade was a 26.56% decrease in their position. Insiders have sold a total of 158,000 shares of company stock valued at $1,101,068 over the last three months. 12.95% of the stock is currently owned by corporate insiders.

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.