Amerigo Resources (OTCMKTS:ARREF) Shares Pass Below 50-Day Moving Average – Here’s What Happened

Amerigo Resources Ltd. (OTCMKTS:ARREF)’s stock price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $4.12 and traded as low as $3.98. Amerigo Resources shares last traded at $4.1570, with a volume of 104,704 shares trading hands.

Amerigo Resources Stock Performance

The company has a market capitalization of $608.20 million, a PE ratio of 18.00 and a beta of 1.54. The company’s fifty day moving average is $4.15 and its 200-day moving average is $2.93.

Amerigo Resources (OTCMKTS:ARREF) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.04. The business had revenue of $79.80 million for the quarter, compared to the consensus estimate of $70.20 million. Amerigo Resources had a net margin of 15.57% and a return on equity of 33.83%. On average, sell-side analysts expect that Amerigo Resources Ltd. will post 0.14 EPS for the current fiscal year.

Amerigo Resources Company Profile

Amerigo Resources Ltd. is a Canada-based mineral resource development company focused on copper deposits in Chile. Its primary asset, the Minera Valle Central (MVC) project, recovers copper from tailings produced by Codelco’s Salvador Division and processes the material into copper concentrate. By leveraging existing plant infrastructure and water rights, Amerigo’s MVC operation delivers a lower-impact, cost-effective source of high-grade copper for global markets.

Amerigo holds the operating licence for MVC under a joint-venture framework with Codelco, Chile’s state-owned mining company.