Amerigo Res Stock Price, News & Analysis

Amerigo Resources Ltd. (ARREF) reported a strong operational quarter for Q1-2023, producing 16.5 million pounds of copper, exceeding guidance by 4.5%. The cash cost improved to $1.91 per pound, which is 11% lower than planned, primarily due to increased molybdenum credits. A notable return of $5.5 million was made to shareholders, marking the sixth consecutive quarterly dividend and the repurchase of 1.6 million shares. The copper price rose to $4.02 per pound, the highest since Q2-2022. By March 31, cash reserves stood at $43.9 million, with a significant reduction in debt to $24.5 million. Production from fresh tailings composed 61% of output, with the company maintaining an annual production target of 62.3 million pounds of copper. A planned nine-day maintenance shutdown is expected in May.

Amerigo Resources reported strong 2021 financial results, achieving a net income of $39.8 million and an earnings per share (EPS) of $0.22. With an annual EBITDA of $90.1 million and cash flow of $69.5 million, the company highlighted robust operational performance, driven by increased copper production of 63.4 million pounds and rising metal prices. A dividend of Cdn$0.03 per share was declared, offering an annual yield of 8.22%. Amerigo's improved financial health allowed for significant shareholder returns, including share buybacks totaling $11.6 million.

Amerigo Resources Ltd. (ARREF) reported a strong 2021 performance with copper production of 63.4 million pounds, exceeding guidance by 4%. The cash cost was $1.75/lb, 2% below expected levels. The company introduced dividends and share repurchase initiatives, returning $11.8 million to shareholders in Q4. Future guidance predicts production of 61.9 million pounds of copper in 2022 at a higher cash cost of $1.90/lb. The EBITDA is projected at $50 million, with potential impacts from fluctuating copper and molybdenum prices.