Amerigo Resources (TSE:ARG) Announces Earnings Results

Amerigo Resources (TSE:ARG) issued its quarterly earnings data on Wednesday. The company reported C$0.16 earnings per share for the quarter, FiscalAI reports. Amerigo Resources had a return on equity of 42.44% and a net margin of 15.26%.The firm had revenue of C$109.93 million for the quarter.

Amerigo Resources Stock Performance

Shares of ARG stock traded down C$0.05 on Wednesday, reaching C$7.10. The stock had a trading volume of 271,923 shares, compared to its average volume of 938,596. Amerigo Resources has a 1 year low of C$2.04 and a 1 year high of C$7.93. The company has a 50 day simple moving average of C$6.73 and a 200 day simple moving average of C$6.11. The stock has a market cap of C$1.15 billion, a P/E ratio of 25.36, a price-to-earnings-growth ratio of 0.32 and a beta of 2.15.

Amerigo Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 6th. Stockholders of record on Thursday, August 6th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.1%. The ex-dividend date of this dividend is Monday, July 13th. This is a boost from Amerigo Resources’s previous quarterly dividend of $0.04. Amerigo Resources’s payout ratio is 49.30%.

Insider Transactions at Amerigo Resources

In other Amerigo Resources news, Director Robert Gayton sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of C$7.29, for a total value of C$364,500.00. Following the completion of the transaction, the director directly owned 143,740 shares in the company, valued at C$1,047,864.60. This represents a 25.81% decrease in their ownership of the stock. Also, insider Carmen Amezquita sold 25,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of C$6.93, for a total value of C$173,250.00. Following the sale, the insider directly owned 8,939 shares in the company, valued at approximately C$61,947.27. This represents a 73.66% decrease in their ownership of the stock. Insiders sold 158,000 shares of company stock worth $1,101,068 in the last three months. Corporate insiders own 12.95% of the company’s stock.

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.