Amerigo Posts $22.7 Million in Third-Quarter Net Income and Returns $27.8 Million to Shareholders
Key Facts
Amerigo Resources reported net income of $22.7 million in the third quarter of 2026 and declared a quarterly dividend of C$0.04 per share. According to the results summary published via Newsfile, EBITDA for the quarter was $48 million and free cash flow was $28.1 million. Net income compares with $18.3 million in the second quarter, when the company recorded EBITDA of $38.4 million and free cash flow of $21.9 million. Newsfile distributed the company’s announcement, while the results and dividend are attributed to Amerigo itself. This puts earnings, cash flow and shareholder returns at the forefront of results for the period ended September 30.
Operationally, the MVC operation in Chile produced 17 million pounds of copper and 0.4 million pounds of molybdenum in the third quarter, with plant availability of 98.1%. The chief executive said heavy rainfall reduced the number of days available to process historical tailings, but added that year-to-date production remained ahead of the internal target. Copper production in the nine months ended September 30 was 48.2 million pounds, equivalent to 76% of annual guidance of 63.8 million pounds. Year-to-date molybdenum production was also 1.15 million pounds, ahead of annual guidance of 1.5 million pounds. These figures show nine-month output against annual targets, alongside the weather constraints that affected tailings processing during the quarter.
Cash costs for copper were $1.55 per pound in the third quarter, while year-to-date normalized cash costs reached $1.65 per pound, compared with annual guidance of $1.98. The company excludes from normalized costs a signing bonus for a three-year collective agreement with the MVC supervisors’ union, paid in May 2026. The company also reported year-to-date unnormalized cash costs of $1.70 per pound. It attributed normalized costs below guidance to higher by-product molybdenum credits amid strong prices year to date, and to higher copper production. The average molybdenum price was $32.38 per pound in the third quarter, compared with $29.15 in the second quarter. Comparing normalized costs with guidance helps assess operating performance while accounting for the exclusion of the May bonus.
Amerigo returned $27.8 million to shareholders during the third quarter, comprising $20.4 million in performance dividends, $4.5 million in quarterly dividends and $2.9 million through share buybacks. These payments brought the total returned to shareholders since the start of the year to $69.5 million through the end of September. The company declared a new quarterly dividend of C$0.04 per share, as part of a capital-return strategy it describes as including quarterly dividends, performance dividends and share buybacks. Cash stood at $50.1 million on September 30. Since launching the strategy in October 2021, Amerigo has returned $168 million to shareholders through dividends and buybacks, and reduced its shares outstanding by 15.4%.
The company cites electrification, grid investment and renewable energy development as factors supporting long-term growth in copper demand. This direction comes amid the return of cash flow to shareholders through dividends and share buybacks, as Amerigo outlined in its second-quarter results. The quarterly investor conference call is scheduled for October 29, 2026, at 11:00 a.m. Pacific Daylight Time, corresponding to 2:00 p.m. Eastern Daylight Time. The call comes the day after the third-quarter results announcement. The available facts do not include a comparison of third-quarter net income with the same period last year.