Amerigo Resources Ltd. (ARG:TSX)

  • ARG is focused on returning capital to shareholders via its 2.3% dividend yield and share buybacks. ARG has returned >C$0.60/share to shareholders via dividends and buybacks since 2021. With minimal capex requirements, ARG is set up to continue rewarding shareholders by paying down debt, issuing dividends (plus performance dividends), and buying back stock.

  • ARG’s cashflow is highly leveraged to the copper price, which we are bullish on over the coming years. As per its 2026 guidance, each $0.20/lb increase in the copper price would increase EBITDA by $4.2M

  • Amerigo has a strong shareholder base with institutions and family offices owning 34%, management and the board owning 14%, and retail investors owning the remaining 52%.

Investment Summary

Company Description

Amerigo Resources Ltd. is an innovative copper producer with a long-term relationship with Corporación Nacional del Cobre de Chile (“Codelco”), the world’s largest copper producer. Amerigo produces copper concentrate, and molybdenum concentrate as a by-product at the MVC operation in Chile by processing fresh and historic tailings from Codelco’s El Teniente mine, the world's largest underground copper mine.

Research

Aerial view of an industrial facility with pipes, tanks, and machinery, surrounded by a hilly landscape.

Amerigo Resources: 
Management Interview
July 30, 2026

Aerial view of an industrial plant with machinery, pipelines, and equipment, surrounded by hilly terrain and mountains in the distance.

Amerigo Resources: 
Research Note
July 29, 2026

Aerial view of an industrial plant with machinery, pipelines, and equipment, surrounded by hilly terrain and mountains in the distance.

Amerigo Resources: 
Research Note
July 13, 2026

Aerial view of an industrial plant with machinery, pipelines, and equipment, surrounded by hilly terrain and mountains in the distance.

Amerigo Resources: 
Research Note
April 29, 2026

Aerial view of an industrial plant with machinery, pipelines, and equipment, surrounded by hilly terrain and mountains in the distance.

Amerigo Resources: 
Research Note
April 13, 2026

Aerial view of an industrial plant with machinery, pipelines, and equipment, surrounded by hilly terrain and mountains in the distance.

Amerigo Resources: 
Research Note
February 25, 2026

Aerial view of an industrial facility with pipes, tanks, and machinery, surrounded by a hilly landscape.

Amerigo Resources: 
Management Interview
January 14, 2026

Aerial view of an industrial plant with machinery, pipelines, and equipment, surrounded by hilly terrain and mountains in the distance.

Amerigo Resources: 
Research Note
January 13, 2026

Aerial view of an industrial plant with machinery, pipelines, and equipment, surrounded by hilly terrain and mountains in the distance.

Amerigo Resources: 
Research Note
December 10, 2025

Aerial view of an industrial facility with pipes, tanks, and machinery, surrounded by a hilly landscape.

Amerigo Resources: 
Management Interview
October 30, 2025

Aerial view of an industrial plant with machinery, pipelines, and equipment, surrounded by hilly terrain and mountains in the distance.

Amerigo Resources: 
Research Note
October 29, 2025

Aerial view of an industrial plant with machinery, pipelines, and equipment, surrounded by hilly terrain and mountains in the distance.

Amerigo Resources: 
Research Note
October 8, 2025

Aerial view of an industrial plant with machinery, pipelines, and equipment, surrounded by hilly terrain and mountains in the distance.

Amerigo Resources: 
Research Note
July 30, 2025

Aerial view of an industrial quarry with machinery, trucks, tracks, and buildings amidst hilly terrain and mountains in the background.

Amerigo Resources: 
Research Note
July 9, 2025

A large industrial mining site with multiple processing plants, conveyor belts, and trucks, set against a backdrop of mountains and greenery.

Amerigo Resources: 
Research Note
May 7, 2025

Aerial view of a large industrial mining or processing site with machinery, conveyor belts, and equipment, surrounded by hills and mountains in the background.

Amerigo Resources: 
Research Note
April 9, 2025

A mountain landscape with machinery and infrastructure, likely a mining or industrial site, surrounded by hills and trees.

Amerigo Resources: 
Research Note
April 4, 2025

Aerial view of an industrial industrial facility with metal structures, pipelines, and machinery set in a mountainous landscape.

Amerigo Resources: 
Research Note
February 26, 2025

Aerial view of an industrial facility with pipes, tanks, and machinery, surrounded by a hilly landscape.

Amerigo Resources: 
Management Interview
January 20, 2025

Aerial view of an industrial mining facility with equipment, processing infrastructure, and trucks in a mountainous area.

Amerigo Resources: 
Initiation Report
January 15, 2025