Amerigo Resources (TSE:ARG) Reaches New 1-Year High – Time to Buy?

Amerigo Resources Ltd. (TSE:ARG) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$8.92 and last traded at C$8.89, with a volume of 623690 shares traded. The stock had previously closed at C$8.28.

Amerigo Resources Stock Up 4.5%

The business has a 50 day moving average price of C$7.63 and a 200 day moving average price of C$6.61. The stock has a market cap of C$1.40 billion, a P/E ratio of 25.44, a PEG ratio of 0.32 and a beta of 2.15.

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 for the quarter. Amerigo Resources had a return on equity of 50.54% and a net margin of 18.55%. On average, research analysts expect that Amerigo Resources Ltd. will post 0.2850394 earnings per share for the current fiscal year.

Amerigo Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 18th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, August 28th. Amerigo Resources’s payout ratio is currently 77.12%.

Insider Activity at Amerigo Resources

In other news, Director Robert Gayton acquired 69,717 shares of Amerigo Resources stock in a transaction on Monday, August 10th. The shares were bought at an average cost of C$8.26 per share, for a total transaction of C$575,862.42. Following the acquisition, the director directly owned 213,457 shares of the company’s stock, valued at C$1,763,154.82. This trade represents a 48.50% increase in their position. Also, Director Aurora Davidson sold 10,900 shares of Amerigo Resources stock in a transaction 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 directly owned 1,540,546 shares of the company’s stock, valued at approximately C$11,815,987.82. This trade represents a 0.70% decrease in their ownership of the stock. In the last three months, insiders sold 125,000 shares of company stock worth $998,841. 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.