Minera Alamos (CVE:MAI) Shares Down 22.3% - What's Next?

Key Points

• Minera Alamos' stock price experienced a sharp decline of 22.3%, trading as low as C$0.36 during mid-day on Thursday.
• Despite the drop, investment firms Desjardins and National Bank Financial have given the company upgrades, rating the shares as a "moderate buy" and "strong-buy" respectively.
• The company's financials indicate a market capitalization of C$167.09 million and significant debt, highlighted by a debt-to-equity ratio of 21.24.

Minera Alamos Inc. (CVE:MAI - Get Free Report)'s share price dropped 22.3% during mid-day trading on Thursday . The stock traded as low as C$0.36 and last traded at C$0.37. Approximately 5,092,957 shares changed hands during mid-day trading, an increase of 739% from the average daily volume of 606,769 shares. The stock had previously closed at C$0.47.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MAI shares. Desjardins raised shares of Minera Alamos to a "moderate buy" rating in a research report on Monday, April 28th. National Bank Financial upgraded shares of Minera Alamos to a "strong-buy" rating in a report on Sunday, May 4th.

Minera Alamos Stock Performance

The firm has a 50 day moving average price of C$0.39 and a 200 day moving average price of C$0.36. The company has a quick ratio of 3.89, a current ratio of 4.26 and a debt-to-equity ratio of 21.24. The stock has a market cap of C$162.38 million, a PE ratio of -11.50 and a beta of 1.37.

Minera Alamos Company Profile

Minera Alamos Inc engages in the acquisition, exploration, development, and operation of mineral properties in Mexico. The company explores for gold, silver, molybdenum, and copper deposits. It holds 100% interests in the Santana project consists of 9 mining claims covering an area of approximately 3,100 hectares located in the east-southeast of Hermosillo, Sonora; the Cerro de Oro project that includes an area of 6,500 hectares situated in Zacatecas, Mexico; and the La Fortuna project covering an area of approximately 6,100 hectares located in Durango State, Mexico, as well as the Los Verdes property located in the State of Sonora, Mexico.