Amerigo Resources (OTCMKTS:ARREF) Shares Gap Down – Here’s What Happened

Shares of Amerigo Resources Ltd. (OTCMKTS:ARREF) gapped down prior to trading on Thursday. The stock had previously closed at $6.31, but opened at $5.90. Amerigo Resources shares last traded at $5.6852, with a volume of 24,607 shares changing hands.

Amerigo Resources Trading Down 2.2%

The stock has a fifty day moving average price of $5.96 and a 200-day moving average price of $5.13. The firm has a market capitalization of $930.53 million, a price-to-earnings ratio of 16.94 and a beta of 1.62.

Amerigo Resources (OTCMKTS:ARREF) last posted its earnings results on Wednesday, July 29th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.07 by $0.04. The business had revenue of $77.37 million during the quarter, compared to the consensus estimate of $73.20 million. Amerigo Resources had a return on equity of 50.64% and a net margin of 20.87%.

About Amerigo Resources

Amerigo Resources Ltd. is a Canadian mining company focused on the production of copper and molybdenum in Chile. Rather than operating a conventional mine, the company recovers metals from fresh and historical tailings generated by Codelco’s El Teniente copper mine, one of the world’s largest underground copper operations.

Amerigo’s primary operating asset is Minera Valle Central (MVC), located near Rancagua, Chile. MVC processes mine tailings to produce copper concentrate and molybdenum concentrate, using mineral-processing and recovery facilities designed to extract additional value from material that has already been mined.