Amerigo Resources (TSE:ARG) Hits New 12-Month High – Time to Buy?

Amerigo Resources Ltd. (TSE:ARG) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$7.94 and last traded at C$7.92, with a volume of 834113 shares. The stock had previously closed at C$7.57.

Amerigo Resources Stock Up 4.5%

The stock has a market capitalization of C$1.35 billion, a P/E ratio of 24.59, a P/E/G ratio of 0.32 and a beta of 2.16. The firm’s 50 day simple moving average is C$6.83 and its two-hundred day simple moving average is C$6.21.

Amerigo Resources (TSE:ARG) last announced its earnings results 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, equities research analysts expect that Amerigo Resources Ltd. will post 0.2850394 earnings per share for the current year.

Amerigo Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 18th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $0.16 dividend on an annualized basis and a yield of 1.9%. Amerigo Resources’s dividend payout ratio (DPR) is presently 77.12%.

Insider Buying and Selling at Amerigo Resources

In other Amerigo Resources news, insider Kimberly Thomas sold 8,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of C$7.07, for a total value of C$56,560.00. Following the sale, the insider owned 22,118 shares in the company, valued at C$156,374.26. The trade was a 26.56% decrease in their position. Also, Director Robert Gayton sold 50,000 shares of Amerigo Resources stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of C$7.29, for a total value of C$364,500.00. Following the completion of the transaction, the director owned 143,740 shares of the company’s stock, valued at approximately C$1,047,864.60. This represents a 25.81% decrease in their position. Over the last quarter, insiders sold 158,000 shares of company stock valued at $1,101,068. Corporate insiders own 12.95% of the company’s stock.

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.