Amerigo Resources (TSE:ARG) Reaches New 1-Year High – Time to Buy?

Amerigo Resources Ltd. (TSE:ARG) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$7.94 and last traded at C$7.92, with a volume of 834113 shares changing hands. The stock had previously closed at C$7.57.

Amerigo Resources Trading Up 4.9%

The stock has a market capitalization of C$1.28 billion, a price-to-earnings ratio of 23.35, a price-to-earnings-growth ratio of 0.32 and a beta of 2.16. The company’s 50 day moving average is C$6.77 and its 200 day moving average is C$6.17.

Amerigo Resources (TSE:ARG) last posted its quarterly earnings data 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%. Analysts anticipate that Amerigo Resources Ltd. will post 0.2850394 EPS for the current fiscal year.

Amerigo Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 18th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, August 28th. Amerigo Resources’s dividend payout ratio (DPR) is 77.12%.

Insider Buying and Selling

In related news, Director Robert Gayton sold 50,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of C$7.29, for a total value of C$364,500.00. Following the completion of the transaction, the director directly owned 143,740 shares in the company, valued at approximately C$1,047,864.60. This represents a 25.81% decrease in their ownership of the stock. Also, insider Kimberly Thomas sold 4,200 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of C$6.67, for a total transaction of C$28,014.00. Following the completion of the transaction, the insider owned 17,118 shares in the company, valued at C$114,177.06. The trade was a 19.70% decrease in their position. Over the last 90 days, insiders have sold 158,000 shares of company stock worth $1,101,068. 12.95% of the stock is owned by insiders.

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.