Amerigo Resources (TSE:ARG) Releases Quarterly Earnings Results

Amerigo Resources (TSE:ARG) released 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 business had revenue of C$109.93 million for the quarter.

Amerigo Resources Trading Down 5.9%

ARG opened at C$6.73 on Thursday. The company’s 50 day moving average is C$6.73 and its 200-day moving average is C$6.12. Amerigo Resources has a 1-year low of C$2.04 and a 1-year high of C$7.93. The company has a market cap of C$1.09 billion, a P/E ratio of 24.04, a PEG 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 paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.7%. The ex-dividend date is Monday, July 13th. This is an increase from Amerigo Resources’s previous quarterly dividend of $0.04. Amerigo Resources’s dividend payout ratio is 49.30%.

Insider Activity at Amerigo Resources

In related news, insider Carmen Amezquita sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of C$6.93, for a total transaction of C$173,250.00. Following the completion of the transaction, the insider directly owned 8,939 shares in the company, valued at C$61,947.27. This represents a 73.66% decrease in their position. Also, insider Kimberly Thomas sold 4,200 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of C$6.67, for a total transaction of C$28,014.00. Following the completion of the transaction, the insider directly owned 17,118 shares of the company’s stock, valued at approximately C$114,177.06. The trade was a 19.70% decrease in their position. In the last three months, insiders have sold 158,000 shares of company stock valued at $1,101,068. 12.95% of the stock is owned by insiders.

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.