Amerigo Resources (TSE:ARG) Hits New 12-Month High Following Insider Buying Activity

Amerigo Resources Ltd. (TSE:ARG)’s stock price reached a new 52-week high during trading on Wednesday after an insider bought additional shares in the company. The company traded as high as C$8.48 and last traded at C$8.03, with a volume of 522273 shares. The stock had previously closed at C$8.26.

Specifically, Director Robert Gayton bought 69,717 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was acquired at an average price of C$8.26 per share, with a total value of C$575,862.42. Following the completion of the purchase, the director directly owned 213,457 shares of the company’s stock, valued at approximately C$1,763,154.82. This trade represents a 48.50% increase in their position.

Amerigo Resources Stock Down 2.5%

The stock has a market capitalization of C$1.26 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 0.32 and a beta of 2.16. The company has a 50 day simple moving average of C$6.89 and a 200-day simple moving average of C$6.26.

Amerigo Resources (TSE:ARG) last announced its quarterly earnings data on Wednesday, July 29th. The company reported C$0.16 EPS for the quarter. The company had revenue of C$109.93 million during 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 earnings per share 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. Investors of record on Friday, September 18th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $0.16 annualized dividend and a yield of 2.0%. Amerigo Resources’s dividend payout ratio is currently 77.12%.

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.