Amerigo Resources (TSE:ARG) Posts Quarterly Earnings Results

Amerigo Resources (TSE:ARG) announced its earnings results on Wednesday. The company reported C$0.20 EPS for the quarter, FiscalAI reports. Amerigo Resources had a net margin of 18.55% and a return on equity of 50.54%. The business had revenue of C$120.47 million for the quarter.

Amerigo Resources Price Performance

ARG traded up C$0.01 during trading on Wednesday, hitting C$7.72. The company’s stock had a trading volume of 296,382 shares, compared to its average volume of 896,955. The stock has a market cap of C$1.25 billion, a PE ratio of 22.71, a PEG ratio of 0.32 and a beta of 1.89. The firm’s 50 day moving average price is C$8.30 and its 200-day moving average price is C$6.75. Amerigo Resources has a twelve month low of C$2.92 and a twelve month high of C$9.11.

Amerigo Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 18th were given a dividend of $0.04 per share. The ex-dividend date was Friday, August 28th. This represents a $0.16 dividend on an annualized basis and a yield of 2.1%. This is a drop from Amerigo Resources’s previous quarterly dividend of $0.18. Amerigo Resources’s dividend payout ratio (DPR) is 77.12%.

Insider Activity at Amerigo Resources

In other Amerigo Resources news, Director George R. Ireland sold 200,000 shares of the stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of C$8.76, for a total value of C$1,752,000.00. Following the completion of the sale, the director owned 9,972,156 shares of the company’s stock, valued at C$87,356,086.56. This trade represents a 1.97% decrease in their ownership of the stock. Also, Director Robert Gayton purchased 69,717 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was bought at an average cost of C$8.26 per share, for a total transaction of C$575,862.42. Following the completion of the acquisition, the director directly owned 213,457 shares of the company’s stock, valued at C$1,763,154.82. This represents a 48.50% increase in their ownership of the stock. Over the last 90 days, insiders have sold 472,000 shares of company stock worth $4,002,034. 12.95% of the stock is owned by 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.