Amerigo Resources (TSE:ARG) Announces Quarterly Earnings Results

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

Amerigo Resources Trading Up 2.3%

Shares of ARG opened at C$7.89 on Thursday. The stock’s 50-day moving average price is C$8.31 and its two-hundred day moving average price is C$6.77. The company has a market capitalization of C$1.27 billion, a PE ratio of 23.21, a PEG ratio of 0.32 and a beta of 1.89. Amerigo Resources has a 12 month low of C$2.92 and a 12 month high of C$9.11.

Amerigo Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 18th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, August 28th. This is a drop from Amerigo Resources’s previous quarterly dividend of $0.18. Amerigo Resources’s dividend payout ratio (DPR) is presently 77.12%.

Insider Activity at Amerigo Resources

In other news, Director Aurora Davidson sold 4,200 shares of the stock in a transaction on Monday, October 19th. The shares were sold at an average price of C$8.03, for a total transaction of C$33,726.00. Following the completion of the sale, the director directly owned 1,468,554 shares in the company, valued at C$11,792,488.62. This represents a 0.29% decrease in their ownership of the stock. Over the last 90 days, insiders have sold 472,000 shares of company stock valued at $4,002,034. Corporate insiders own 12.95% of the company’s stock.

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.