Amerigo Resources Ltd (OTCMKTS:ARREF) (TSX:ARG) Stock Falls 10% In a Week: Provides 2021 Production Results
Anyone who is currently looking into stocks which may have made significant gains over the course of the past week may have come across the Amerigo Resources Ltd (OTCMKTS:ARREF) (TSX:ARG) stock. It has gathered considerable traction over the course of the past week and managed to clock gains of as much as 10% during the period. In this context, it may be the right time for investors to consider looking into the announcement made by the company back on January 13.
Market Stats
On Friday, ARREF stock slid 1.26% to $1.2540 with more than 41K shares, compared to its average volume of 118K shares. The stock has moved within a range of $1.2301 – 1.2700 after opening trading at $1.27.
Amerigo Reports 2021 Production Results and Provides 2022 Guidance
At the time the company made an announcement with regards to its production results from its Minera Valle Central project for the year that ended on December 31, 2021.
The project is situated not too far away from Rancagua in Chile. Amerigo Resources reported that it had managed to produce copper to the tune of as much as 63.4 million pound for the year from that site. In addition to that, the company also noted that the strong performance delivered by the above mentioned project and the strong copper prices had resulted in a good year for Amerigo Resources. At this point in time, it is going to be interesting to see if the stock can continue to add to its gains.
Key Quote
“We are pleased to report annual copper production of 63.4 million pounds. MVC’s strong operational performance, together with an annual robust average LME copper price of $4.22/lb resulted in a transformative year for Amerigo under which the Company put in place quarterly dividends and share repurchase initiatives”, said Aurora Davidson, Amerigo’s President and CEO. “We would like to thank the Company’s employees for their continued commitment to meeting corporate goals. We look forward to another year of strong performance and robust markets under which the Company will continue returning capital to shareholders”, stated Ms. Davidson.
Traders Corner
ARREF stock is trading above the 20-Day and 50-Day Moving averages of $1.25 and $1.12 respectively. The stock is trading in neutral zone with the RSI at 55.