Amerigo Resources (ARGRN) Q3 2026 Earnings Report
MX:ARGRN Q3 2026 EPS Results
- Actual EPS
- MXN 2.63
- Consensus EPS
- ―
- Beat/Miss
- ―
- One Year Ago EPS
- MXN 0.75
MX:ARGRN Q3 2026 Revenue Results
- Actual Revenue
- MXN 1.59B
- Expected Revenue
- MXN 1.40B
- Beat/Miss
- Beat by +MXN 192.28M
- YoY Revenue Growth
- +63.91%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/28/2026
- Time
- Before Open
- Conference Call
- Wednesday, October 28, 2026
MX:ARGRN Upcoming Earnings
Amerigo Resources's next earnings date is estimated for February 24, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
MX:ARGRN Q3 2026 Earnings Call
0:00 / 0:00
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive, with record or sharply improved revenue, net income, cash flow, production efficiency, shareholder returns, and share price performance. Operational reliability, low cash costs, annual guidance tracking, a debt-free balance sheet, and safety and environmental achievements significantly outweighed the limited challenges from heavy rainfall, higher royalty-related total costs, and ongoing DET discussions.
Company Guidance
Amerigo said MVC remains on track to achieve annual production guidance of 63.8 million pounds of copper and 1.5 million pounds of molybdenum; through September 30, 2026, production was 48.2 million pounds of copper, representing 76% of annual guidance and ahead of the internal target, while molybdenum production was 1.15 million pounds and ahead of the pace required to achieve the annual guidance. Year-to-date normalized cash cost was $1.65 per pound, 17% below annual guidance of $1.98 per pound, and year-to-date capital expenditures totaled $12.8 million. At September 30, the provisional copper price used by MVC was $6.55 per pound, and a 10% movement from that level would positively or negatively affect Q3 2026 revenue by approximately $11.2 million relative to Q3 production.
- Strong Q3 Copper Production and Operational ReliabilityMVC produced 17 million pounds of copper in Q3, up 16% from 14.6 million pounds in Q3 2025. Plant availability was 98.1%, with no reportable safety incidents during the quarter. Year-to-date production reached 48.2 million pounds, representing 76% of annual guidance and ahead of the company's internal target.
- Annual Production Guidance Remains on TrackMVC remains on track to achieve annual guidance of 63.8 million pounds of copper and 1.5 million pounds of molybdenum. Through September 30, copper production was 48.2 million pounds and molybdenum production was 1.15 million pounds, both ahead of the pace required to meet full-year guidance.
- Lower Cash Costs Supported by Production and Molybdenum CreditsQ3 cash cost was $1.55 per pound, down from $1.80 per pound in Q3 2025. The CFO reported year-to-date cash cost of $1.70 per pound and normalized cash cost of $1.65 per pound, 17% below annual guidance of $1.98 per pound. Stronger production and molybdenum by-product credits contributed to the outperformance.
- Strong Copper and Molybdenum PricingMVC's recognized copper price averaged $6.55 per pound in Q3, compared with $4.54 per pound in Q3 2025. The average molybdenum price increased to $32.38 per pound from $24.11 per pound in Q3 2025. Management said molybdenum prices had remained consistently strong during the year, although it did not provide a forward price view.
- Revenue and Profitability GrowthRevenue increased 61% year-over-year to $84.6 million, reflecting higher production, stronger copper prices, and $6.9 million in positive fair-value adjustments to settlement receivables. Net income rose to $22.7 million, or $0.14 per basic and diluted share, from $6.7 million, or $0.04 per share, in Q3 2025.
- Strong EBITDA and Cash Flow GenerationQ3 EBITDA was $48 million and free cash flow was $28.1 million, compared with $11.1 million in Q3 2025. Operating cash flow before changes in non-cash working capital was $30.5 million, compared with $12.4 million in the prior-year quarter.
- Fresh Tailings Throughput and Recovery ImprovementsFresh tailings accounted for 71% of quarterly copper production, compared with 47% in Q3 2025. Fresh-tailings throughput was approximately 105,000 tons per day, compared with approximately 93,000 tons per day in Q3 2025; grade increased to 0.20% from 0.18%; and copper recovery increased to 28.5% from 22.2%, a 6.3% increase.
- Capital Returns to ShareholdersAmerigo returned $27.8 million to shareholders in Q3, consisting of $20.4 million in performance dividends, $4.5 million in quarterly dividends, and $2.9 million in share repurchases. Year-to-date payments totaled $69.5 million, and including the 21-cent Canadian performance dividend paid on October 14, total 2026 shareholder returns reached $93.9 million.
- Additional Quarterly Dividend DeclaredThe board declared another four-cent Canadian quarterly dividend payable in December. Management described the quarterly dividend as the dependable base of the capital return strategy, with performance dividends and share repurchases providing additional capital-return tools.
- High Total Yield and Share RepurchasesAt the September 30 share price of CAD 8.74, the quarterly dividend represented a stated annualized yield of 1.83%. Including performance dividends declared in 2026, the dividend yield increased to 8.12%, excluding the additional benefit of share repurchases. Since the capital return strategy was implemented in October 2021, Amerigo has returned $168 million to shareholders and reduced shares outstanding by 15.4%.
- Debt-Free Balance Sheet and Increased CashAmerigo ended Q3 with $50.1 million in cash and cash equivalents, compared with $40.3 million at December 31, 2025. Management emphasized that the company maintains a debt-free balance sheet, low sustaining capital requirements, and flexibility to retain cash when conditions change.
- Selective Sustaining and Optimization InvestmentYear-to-date capital expenditures totaled $12.8 million. The company continues to invest selectively in sustaining and optimization initiatives while maintaining significant capacity for shareholder returns. Management said it will continue assessing capital required to preserve reliability and pursue future opportunities.
- Long-Term Safety RecordMVC completed four years without a lost-time accident among its employees in January. Management characterized the record as exceptional for an industrial operation and attributed it to thousands of individual safety decisions made each day.
- Environmental Recognition and Water Recycling ProgressMVC was recognized for the second consecutive year at Chile's Circular Awards, taking first place in the water challenge for a project that positioned MVC to achieve a 78% process water recycling rate in 2025. The prior year, MVC was recognized for a project focused on energy efficiency and emissions reductions.
- Share Price AppreciationAmerigo's share price increased from CAD 4.54 on December 31, 2025, to CAD 8.74 on September 30, 2026, an increase of about 93%.
- Experienced Management and Operational ContinuityAurora Davidson has been with Amerigo for 23 years, including seven as CEO; Carmen Amezquita has served as CFO for six years; and MVC General Manager Cristian Cáceres has been with the operation for 32 years, including 11 years as general manager. Management said this continuity provides institutional knowledge and supports financial and operational discipline.
- Resilience Investments at MVC and CauquenesManagement highlighted prior investments in redundancy, water management, process stability, plant optimization, floating pipe infrastructure, and pumping capacity at the Cauquenes site. These investments supported operations during heavy rainfall and are intended to reduce operational downtime while maintaining safety.
- Copper Price LeverageAt September 30, the provisional copper price used by MVC was $6.55 per pound. A 10% movement from that level would positively or negatively affect Q3 2026 revenue by approximately $11.2 million relative to Q3 production.
MX:ARGRN Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 24, 2027 | 2026 (Q4) | ―- | 1.88 | ― | ― |
| Oct 28, 2026 | 2026 (Q3) | ―2.63 | 0.75 | 250.00% (+1.88) | |
| Jul 29, 2026 | 2026 (Q2) | ―2.07 | 0.94 | 120.00% (+1.13) | |
| Apr 29, 2026 | 2026 (Q1) | ―1.69 | 0.38 | 350.00% (+1.32) | |
| Feb 25, 2026 | 2025 (Q4) | ―1.88 | 0.38 | 400.00% (+1.50) | |
| Oct 29, 2025 | 2025 (Q3) | ―0.75 | 0.38 | 100.00% (+0.38) | |
| Jul 30, 2025 | 2025 (Q2) | ―0.94 | 1.13 | -16.67% (-0.19) | |
| May 07, 2025 | 2025 (Q1) | ―0.38 | 0.56 | -33.33% (-0.19) | |
| Feb 26, 2025 | 2024 (Q4) | 0.750.38 | 0.38 | 0.00% (+0.00) | |
| Oct 30, 2024 | 2024 (Q3) | 0.560.38 | -0.68 | 155.56% (+1.05) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed
