Amerigo Resources (ARREF) Advances While Market Declines: Some Information for Investors

In the latest trading session, Amerigo Resources (ARREF) closed at $1.37, marking a +0.4% move from the previous day. The stock's change was more than the S&P 500's daily loss of 0.22%. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq lost 0.33%.Prior to today's trading, shares of the copper and molybdenum mining company had gained 7.09% over the past month. This has outpaced the Basic Materials sector's loss of 0.38% and the S&P 500's loss of 7.48% in that time.Market participants will be closely following the financial results of Amerigo Resources in its upcoming release. On that day, Amerigo Resources is projected to report earnings of $0.04 per share, which would represent year-over-year growth of 33.33%. Meanwhile, the latest consensus estimate predicts the revenue to be $49.44 million, indicating a 10.06% increase compared to the same quarter of the previous year.In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.21 per share and a revenue of $202 million, indicating changes of +75% and +4.79%, respectively, from the former year.Investors might also notice recent changes to analyst estimates for Amerigo Resources. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Amerigo Resources is holding a Zacks Rank of #3 (Hold) right now.Looking at valuation, Amerigo Resources is presently trading at a Forward P/E ratio of 6.48. This denotes a discount relative to the industry's average Forward P/E of 18.96.Investors should also note that ARREF has a PEG ratio of 0.32 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining - Non Ferrous was holding an average PEG ratio of 0.89 at yesterday's closing price.The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 199, which puts it in the bottom 21% of all 250+ industries.The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.To follow ARREF in the coming trading sessions, be sure to utilize Zacks.com.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amerigo Resources Ltd. (ARREF): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks