The Materials sector company, Amerigo Resources (ARG), has received a rating update from a Wall Street analyst yesterday. The company received a Buy rating from Roth Capital’s analyst Joseph Reagor, with a C$1.70 price target.
According to TipRanks.com, Reagor is a 4-star analyst with an average return of 7.4% and a 39.4% success rate. Reagor covers the Basic Materials sector, focusing on stocks such as Endeavour Silver Corp, Avino Silver & Gold, and Auryn Resources Inc.
Amerigo Resources has an analyst consensus of Moderate Buy, with a price target consensus of C$1.70.
Based on Amerigo Resources’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$1.88 million. In comparison, last year the company had a net profit of C$3.94 million.
Amerigo Resources Ltd. engages in the production and sale of copper and molybdenum concentrates. The company was founded by Steven G. Dean on January 23, 1984 and is headquartered in Vancouver, Canada.
The company’s shares closed on Friday at C$1.04.
