Minera Alamos (CVE:MAI) Shares Down 24.5% - Should You Sell?

Key Points

• Minera Alamos Inc. (CVE:MAI)'s stock plummeted by 24.5% to C$0.36, with trading volume spiking to over 7.7 million shares, significantly above the average.
• Despite the recent decline, analysts from Desjardins and National Bank Financial have upgraded Minera Alamos to a "moderate buy" and "strong-buy" rating, respectively.
• Minera Alamos holds multiple mining properties in Mexico, focusing on resources like gold, silver, and copper, with a market capitalization of C$167.09 million.

Minera Alamos Inc. (CVE:MAI - Get Free Report)'s share price dropped 24.5% on Thursday . The company traded as low as C$0.36 and last traded at C$0.36. Approximately 7,736,001 shares changed hands during trading, an increase of 1,137% from the average daily volume of 625,215 shares. The stock had previously closed at C$0.47.

Analysts Set New Price Targets

MAI has been the topic of a number of research reports. Desjardins raised Minera Alamos to a "moderate buy" rating in a research note on Monday, April 28th. National Bank Financial upgraded shares of Minera Alamos to a "strong-buy" rating in a research report on Sunday, May 4th.

Minera Alamos Price Performance

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

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.