Amerigo Resources (TSE:ARG) Hits New 52-Week High – Still a Buy?

Shares of Amerigo Resources Ltd. (TSE:ARG) hit a new 52-week high during trading on Monday . The stock traded as high as C$8.92 and last traded at C$8.89, with a volume of 623690 shares. The stock had previously closed at C$8.28.

Amerigo Resources Stock Performance

The firm has a market cap of C$1.40 billion, a P/E ratio of 25.44, a P/E/G ratio of 0.32 and a beta of 2.15. The firm’s fifty day simple moving average is C$7.63 and its 200 day simple moving average is C$6.61.

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

Amerigo Resources Cuts Dividend

The firm 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 $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, August 28th. Amerigo Resources’s dividend payout ratio (DPR) is presently 77.12%.

Insider Buying and Selling at Amerigo Resources

In related news, Director Aurora Davidson sold 7,500 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of C$8.53, for a total value of C$63,975.00. Following the completion of the transaction, the director owned 1,436,046 shares of the company’s stock, valued at approximately C$12,249,472.38. This trade represents a 0.52% decrease in their position. In the last 90 days, insiders have sold 125,000 shares of company stock valued at $998,841. 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.