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Canada's Amerigo Resources Q3 net income surges on higher copper prices

By Reuters News


Overview

  • Canada copper producer's Q3 net income rose sharply on higher copper prices and production

  • Company declared quarterly Cdn$0.04/share dividend and paid record Cdn$0.21/share performance dividend

  • Q3 copper cash cost fell to $1.55/lb, helped by higher molybdenum prices and lower lime costs


Outlook

  • Amerigo declares quarterly dividend of Cdn$0.04 per share, payable December 18, 2026

  • Company says strong market fundamentals are supporting copper prices

  • Amerigo notes Q4-2026 revenue sensitive to copper price changes; 10% shift in price impacts revenue by $11.2 mln


Result Drivers

  • HIGHER COPPER PRICES - Co said record average copper prices of $6.55/lb in Q3-2026 supported increased revenue and net income

  • INCREASED PRODUCTION - Q3-2026 copper production rose to 17.0 mln lbs, aided by 98.1% plant availability and operational execution

  • LOWER CASH COSTS - Cash cost fell to $1.55/lb, mainly due to higher molybdenum by-product credits and reduced lime consumption


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Net Income

$22.70 mln

Q3 EBITDA

$47.98 mln


Analyst Coverage

  • The one available analyst rating on the shares is "strong buy"

  • The average consensus recommendation for the specialty mining & metals peer group is "buy."

  • Wall Street's median 12-month price target for Amerigo Resources Ltd is C$10.00, about 29.7% above its October 27 closing price of C$7.71

  • The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 20 three months ago


Reuters Recommended Reads

  • Oct 27 - Freeport tops profit estimates on copper rally as Grasberg recovery continues

  • Oct 26 - Canada's Capstone Copper announces $3 billion investment plan in Chile

  • Oct 27 - Freeport-McMoRan Q3 revenue rises on higher copper prices


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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