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

Amerigo Resources Ltd. (TSE:ARG) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$7.93 and last traded at C$7.89, with a volume of 365578 shares trading hands. The stock had previously closed at C$7.60.

Amerigo Resources Trading Up 3.4%

The stock’s 50-day moving average price is C$6.64 and its 200-day moving average price is C$6.01. The company has a market capitalization of C$1.27 billion, a P/E ratio of 28.07, a P/E/G ratio of 0.32 and a beta of 2.15.

Amerigo Resources (TSE:ARG) last posted its earnings results on Wednesday, April 29th. The company reported C$0.13 EPS for the quarter. Amerigo Resources had a return on equity of 42.44% and a net margin of 15.26%.The company had revenue of C$91.99 million during the quarter. Sell-side analysts expect that Amerigo Resources Ltd. will post 0.2850394 earnings per share for the current fiscal year.

Amerigo Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 6th. Shareholders of record on Thursday, August 6th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 9.2%. The ex-dividend date of this dividend is Monday, July 13th. This is a positive change from Amerigo Resources’s previous quarterly dividend of $0.04. Amerigo Resources’s dividend payout ratio (DPR) is presently 49.30%.

Insider Transactions at Amerigo Resources

In related news, insider Carmen Amezquita sold 25,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of C$6.93, for a total value of C$173,250.00. Following the completion of the transaction, the insider directly owned 8,939 shares of the company’s stock, valued at C$61,947.27. This represents a 73.66% decrease in their position. Also, insider Kimberly Thomas sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of C$7.07, for a total value of C$56,560.00. Following the completion of the sale, the insider owned 22,118 shares in the company, valued at approximately C$156,374.26. This represents a 26.56% decrease in their ownership of the stock. Over the last three months, insiders sold 158,000 shares of company stock worth $1,101,068. 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.