Amerigo Resources (TSE:ARG) Sets New 1-Year High Following Insider Buying Activity

Amerigo Resources Ltd. (TSE:ARG – Get Free Report)’s share price hit a new 52-week high during trading on Wednesday following insider buying activity. The company traded as high as C$8.48 and last traded at C$8.03, with a volume of 522273 shares trading hands. The stock had previously closed at C$8.26.

Specifically, Director Robert Gayton acquired 69,717 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was bought at an average cost of C$8.26 per share, with a total value of C$575,862.42. Following the acquisition, the director owned 213,457 shares of the company’s stock, valued at approximately C$1,763,154.82. The trade was a 48.50% increase in their position.

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Amerigo Resources Price Performance

The stock has a 50 day moving average of C$6.90 and a 200 day moving average of C$6.27. The firm has a market cap of C$1.22 billion, a P/E ratio of 22.26, a PEG ratio of 0.32 and a beta of 2.16.

Amerigo Resources (TSE:ARG – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported C$0.16 earnings per share (EPS) for the quarter. Amerigo Resources had a return on equity of 50.54% and a net margin of 18.55%.The firm had revenue of C$109.93 million during the quarter. On average, research analysts predict that Amerigo Resources Ltd. will post 0.2850394 EPS for the current fiscal year.

Amerigo Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 18th will be given a $0.04 dividend. The ex-dividend date is Friday, August 28th. This represents a $0.16 dividend on an annualized basis and a yield of 2.1%. Amerigo Resources’s payout ratio is presently 77.12%.

Amerigo Resources Company Profile

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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.

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