Amerigo Resources (TSE:ARG) Shares Cross Above Two Hundred Day Moving Average - What's Next?

Key Points

• Amerigo Resources shares crossed above their 200-day moving average, reaching C$8.60 before closing at C$8.41, compared with the 200-day average of C$7.03.
• The company reported quarterly revenue of C$109.93 million and earnings of C$0.16 per share, with an 18.55% net margin and 50.54% return on equity.
• Amerigo reduced its quarterly dividend to C$0.04 from C$0.18, implying a 1.9% yield, while insiders sold 438,000 shares worth approximately $3.72 million over the past three months.

Amerigo Resources Ltd. (TSE:ARG - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of C$7.03 and traded as high as C$8.60. Amerigo Resources shares last traded at C$8.41, with a volume of 982,695 shares.

Amerigo Resources Stock Performance

The business's fifty day simple moving average is C$8.26 and its 200 day simple moving average is C$7.03. The stock has a market cap of C$1.36 billion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 0.32 and a beta of 1.89.

Amerigo Resources (TSE:ARG - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported C$0.16 earnings per share for the quarter. Amerigo Resources had a return on equity of 50.54% and a net margin of 18.55%. The company had revenue of C$109.93 million during the quarter. As a group, analysts forecast that Amerigo Resources Ltd. will post 0.29 EPS for the current fiscal year.

Amerigo Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 18th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.9%. This is a drop from Amerigo Resources's previous quarterly dividend of $0.18. The ex-dividend date was Friday, August 28th. Amerigo Resources's payout ratio is presently 77.12%.

Insider Activity

In other news, Director Aurora Davidson sold 4,200 shares of the company's stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of C$8.80, for a total value of C$36,960.00. Following the sale, the director owned 1,562,554 shares in the company, valued at approximately C$13,750,475.20. This represents a 0.27% decrease in their position. Also, Director George R. Ireland sold 200,000 shares of the stock in a transaction dated Friday, September 18th. The stock was sold at an average price of C$8.76, for a total transaction of C$1,752,000.00. Following the transaction, the director directly owned 9,972,156 shares in the company, valued at C$87,356,086.56. The trade was a 1.97% decrease in their position. Insiders sold a total of 438,000 shares of company stock valued at $3,724,218 in the last three months. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.