Amerigo Resources (OTCMKTS:ARREF) Shares Up 5.1% – Here’s Why

Amerigo Resources Ltd. (OTCMKTS:ARREF)’s share price traded up 5.1% during mid-day trading on Tuesday. The stock traded as high as $6.22 and last traded at $6.22. Approximately 33,097 shares changed hands during trading, a decline of 82% from the average daily volume of 180,253 shares. The stock had previously closed at $5.92.

Amerigo Resources Trading Up 5.8%

The company has a market capitalization of $1.01 billion, a P/E ratio of 18.43 and a beta of 1.62. The business has a 50 day moving average price of $5.92 and a 200 day moving average price of $5.07.

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

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.