Amerigo Resources (OTCMKTS:ARREF) Shares Gap Down – What’s Next?

Amerigo Resources Ltd. (OTCMKTS:ARREF) gapped down before the market opened on Tuesday. The stock had previously closed at $6.28, but opened at $5.96. Amerigo Resources shares last traded at $6.08, with a volume of 2,766 shares changing hands.

Amerigo Resources Price Performance

The stock has a 50 day simple moving average of $5.81 and a 200-day simple moving average of $4.98. The firm has a market cap of $995.93 million, a PE ratio of 18.13 and a beta of 1.62.

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

Amerigo Resources Company Profile

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.