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

Shares of Amerigo Resources Ltd. (TSE:ARG) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$6.92 and last traded at C$6.92, with a volume of 433170 shares changing hands. The stock had previously closed at C$6.71.

Amerigo Resources Stock Up 6.6%

The company has a 50 day moving average of C$5.68 and a two-hundred day moving average of C$4.95. The firm has a market cap of C$1.16 billion, a P/E ratio of 25.54, a PEG ratio of 0.32 and a beta of 2.11.

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

Amerigo Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 18th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, May 29th. Amerigo Resources’s payout ratio is presently 49.30%.

Insider Activity at Amerigo Resources

In other news, Director Christian Caceres sold 63,500 shares of Amerigo Resources stock in a transaction that occurred on Thursday, March 26th. The shares were sold at an average price of C$4.77, for a total value of C$302,895.00. Following the transaction, the director directly owned 25,700 shares of the company’s stock, valued at C$122,589. This trade represents a 71.19% decrease in their ownership of the stock. Insiders have sold 123,581 shares of company stock valued at $591,477 in the last ninety days. Company insiders own 12.95% of the company’s stock.

Amerigo Resources Company Profile

Amerigo Resources Ltd is principally engaged in the production of copper and molybdenum concentrates through its operating subsidiary Minera Valle Central SA The group operates in one segment, the production of copper concentrates with the production of molybdenum concentrates as a by-product. The company geographically operates in Chile and Canada and earns most of its revenue from Chile.