Amerigo Resources (TSE:ARG) Stock Passes Above 200-Day Moving Average – What’s Next?

Amerigo Resources Ltd. (TSE:ARG) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$6.35 and traded as high as C$8.24. Amerigo Resources shares last traded at C$8.22, with a volume of 518,893 shares.

Amerigo Resources Stock Performance

The stock has a market cap of C$1.34 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 0.32 and a beta of 2.16. The firm has a 50-day moving average price of C$7.13 and a 200-day moving average price of C$6.37.

Amerigo Resources (TSE:ARG) last issued its earnings results on Wednesday, July 29th. The company reported C$0.16 earnings per share (EPS) for the quarter. The firm had revenue of C$109.93 million for the quarter. Amerigo Resources had a net margin of 18.55% and a return on equity of 50.54%. As a group, sell-side analysts anticipate that Amerigo Resources Ltd. will post 0.2850394 EPS for the current fiscal year.

Amerigo Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 18th will be paid a dividend of $0.04 per share. The ex-dividend date is Friday, August 28th. This represents a $0.16 annualized dividend and a yield of 1.9%. Amerigo Resources’s dividend payout ratio is currently 77.12%.

Insider Activity at Amerigo Resources

In related news, Director Aurora Davidson sold 10,900 shares of the firm’s 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 value of C$83,603.00. Following the sale, 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 ownership of the stock. Also, Director Robert Gayton purchased 69,717 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was purchased at an average price of C$8.26 per share, for a total transaction of C$575,862.42. Following the completion of the purchase, the director owned 213,457 shares in the company, valued at approximately C$1,763,154.82. The trade was a 48.50% increase in their ownership of the stock. Insiders have sold a total of 145,000 shares of company stock worth $1,086,037 over the last quarter. Company 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.