Amerigo Resources (ARREF) Suffers a Larger Drop Than the General Market: Key Insights

Amerigo Resources (ARREF) closed the most recent trading day at $1.38, moving -1.68% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 1.12%. Elsewhere, the Dow lost 0.31%, while the tech-heavy Nasdaq lost 2.04%.The the stock of copper and molybdenum mining company has risen by 13.82% in the past month, leading the Basic Materials sector's gain of 1.19% and the S&P 500's loss of 2.91%.Market participants will be closely following the financial results of Amerigo Resources in its upcoming release. The company's upcoming EPS is projected at $0.04, signifying a 33.33% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $49.44 million, up 10.06% from the prior-year quarter.Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.21 per share and revenue of $202 million, indicating changes of +75% and +4.79%, respectively, compared to the previous year.Any recent changes to analyst estimates for Amerigo Resources should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Amerigo Resources is holding a Zacks Rank of #3 (Hold) right now.Investors should also note Amerigo Resources's current valuation metrics, including its Forward P/E ratio of 6.67. For comparison, its industry has an average Forward P/E of 20.66, which means Amerigo Resources is trading at a discount to the group.It's also important to note that ARREF currently trades at a PEG ratio of 0.33. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Mining - Non Ferrous industry had an average PEG ratio of 0.88 as trading concluded yesterday.The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 188, which puts it in the bottom 26% 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.Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.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