Amerigo Resources (TSE:ARG) Reaches New 52-Week High Following Dividend Announcement

Key Points

• Amerigo Resources shares hit a new 52-week high after the company announced a bigger quarterly dividend. The stock rose as high as C$7.90 and was last seen trading up 8.3% at C$7.73.
• The new dividend will be C$0.18 per share, payable on August 6 to shareholders of record that same day, up sharply from the prior quarterly dividend of C$0.04. That implies a 9.2% annualized yield.
• The company recently reported quarterly EPS of C$0.13 on revenue of C$91.99 million, while insiders have also been selling shares in recent months. Analysts currently expect full-year EPS of about 0.285.

Shares of Amerigo Resources Ltd. (TSE:ARG - Get Free Report) hit a new 52-week high during trading on Tuesday following a dividend announcement from the company. The stock traded as high as C$7.90 and last traded at C$7.73, with a volume of 262733 shares trading hands. The stock had previously closed at C$7.23.The newly announced dividend which will be paid on Thursday, August 6th. Investors of record on Thursday, August 6th will be given a $0.18 dividend. This is a boost from Amerigo Resources's previous quarterly dividend of $0.04. The ex-dividend date is Monday, July 13th. This represents a $0.72 annualized dividend and a yield of 9.2%. Amerigo Resources's dividend payout ratio is presently 49.30%.

Amerigo Resources Trading Up 8.3%

The firm has a fifty day simple moving average of C$6.53 and a 200-day simple moving average of C$5.89. The stock has a market cap of C$1.27 billion, a price-to-earnings ratio of 27.96, a P/E/G ratio of 0.32 and a beta of 2.15.

Amerigo Resources (TSE:ARG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported C$0.13 EPS for the quarter. The firm had revenue of C$91.99 million for the quarter. Amerigo Resources had a return on equity of 42.44% and a net margin of 15.26%. On average, equities analysts predict that Amerigo Resources Ltd. will post 0.2850394 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Carmen Amezquita sold 25,000 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of C$6.93, for a total value of C$173,250.00. Following the transaction, the insider owned 8,939 shares of the company's stock, valued at approximately C$61,947.27. This trade represents a 73.66% decrease in their position. Also, insider Kimberly Thomas sold 4,200 shares of Amerigo Resources stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of C$6.67, for a total transaction of C$28,014.00. Following the sale, the insider owned 17,118 shares of the company's stock, valued at approximately C$114,177.06. This represents a 19.70% decrease in their position. Insiders sold a total of 158,000 shares of company stock worth $1,101,068 over the last three months. 12.95% of the stock is currently owned by company 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.

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