Amerigo Resources (TSE:ARG) Stock Breaks Above Two Hundred Day Moving Average – What’s Next?

Amerigo Resources Ltd. (TSE:ARG) shares passed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of C$7.03 and traded as high as C$8.60. Amerigo Resources shares last traded at C$8.41, with a volume of 982,695 shares changing hands.

Amerigo Resources Stock Up 2.6%

The firm’s 50 day moving average is C$8.26 and its two-hundred day moving average is C$7.03. The company has a market cap of C$1.36 billion, a P/E ratio of 24.74, a PEG ratio of 0.32 and a beta of 1.89.

Amerigo Resources (TSE:ARG) last announced its quarterly earnings results on Wednesday, July 29th. The company reported C$0.16 earnings per share (EPS) for the quarter. Amerigo Resources had a return on equity of 50.54% and a net margin of 18.55%. The business had revenue of C$109.93 million for the quarter. As a group, research analysts forecast that Amerigo Resources Ltd. will post 0.29 EPS for the current fiscal year.

Amerigo Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, September 18th were paid a $0.04 dividend. This is a negative change from Amerigo Resources’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, August 28th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.9%. Amerigo Resources’s dividend payout ratio is currently 77.12%.

Insider Activity

In related news, Director Robert Gayton purchased 69,717 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were purchased at an average cost of C$8.26 per share, with a total value of C$575,862.42. Following the transaction, the director directly owned 213,457 shares in the company, valued at C$1,763,154.82. This trade represents a 48.50% increase in their position. Also, Director Aurora Davidson sold 10,900 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of C$7.67, for a total transaction of C$83,603.00. Following the transaction, the director owned 1,540,546 shares in the company, valued at approximately C$11,815,987.82. This trade represents a 0.70% decrease in their position. Insiders sold a total of 438,000 shares of company stock worth $3,724,218 in the last quarter. 12.95% of the stock is owned by company 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.