Amerigo Resources Faces Production Challenges Following El Teniente Mine Incident

The latest update is out from Amerigo Resources ( (TSE:ARG) ).

Amerigo Resources Ltd. has announced a temporary suspension of fresh tailings processing at its Minera Valle Central (MVC) operation in Chile due to a seismic event that caused a rockfall at Codelco’s El Teniente mine, resulting in the tragic death of six workers. While MVC continues to process historic tailings, the impact on annual production remains uncertain, with an estimated daily loss of 100,000 pounds of copper production, pending the resumption of operations at El Teniente.

The most recent analyst rating on (TSE:ARG) stock is a Buy with a C$2.50 price target. To see the full list of analyst forecasts on Amerigo Resources stock, see the TSE:ARG Stock Forecast page.

Spark’s Take on TSE:ARG Stock

According to Spark, TipRanks’ AI Analyst, TSE:ARG is a Outperform.

Amerigo Resources presents a compelling investment case due to its strong financial performance, attractive valuation, and positive corporate actions. Technical analysis indicates some caution, but overall sentiment remains favorable, supported by effective cost management and shareholder returns.

To see Spark’s full report on TSE:ARG stock, click here.

More about Amerigo Resources

Amerigo Resources Ltd. is an innovative copper producer with a long-term relationship with Codelco, the world’s largest copper producer. The company produces copper concentrate and molybdenum concentrate as a by-product at its Minera Valle Central operation in Chile by processing fresh and historic tailings from Codelco’s El Teniente mine, the world’s largest underground copper mine.

Average Trading Volume: 229,797

Technical Sentiment Signal: Strong Buy

Current Market Cap: C$352.1M

Learn more about ARG stock on TipRanks’ Stock Analysis page.