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

Key Points

• Minera Alamos Inc. shares experienced a significant decline of 22.3%, dropping from C$0.47 to C$0.37 during trading, with a notable increase in trading volume.
• Analysts have issued optimistic upgrades for the company, with Desjardins rating it as a "moderate buy" and National Bank Financial labeling it a "strong-buy".
• Minera Alamos has a market cap of C$167.09 million and operates several mineral projects in Mexico, focusing on gold, silver, and copper exploration.

Minera Alamos Inc. (CVE:MAI - Get Free Report)'s share price fell 22.3% during mid-day trading on Thursday . The company traded as low as C$0.36 and last traded at C$0.37. 7,180,490 shares were traded during mid-day trading, an increase of 1,066% from the average session volume of 616,071 shares. The stock had previously closed at C$0.47.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MAI. Desjardins upgraded Minera Alamos to a "moderate buy" rating in a report on Monday, April 28th. National Bank Financial raised Minera Alamos to a "strong-buy" rating in a report on Sunday, May 4th.

Minera Alamos Price Performance

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

About Minera Alamos

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.