Minera Alamos (CVE:MAI) Trading Down 24.5% - What's Next?

Key Points

• Minera Alamos Inc. shares dropped by 24.5% on Friday, trading at C$0.36, with a significant increase in volume of 7,736,001 shares.
• Despite the decline, analysts remain optimistic, with Desjardins and National Bank Financial recently upgrading the stock to "moderate buy" and "strong-buy" ratings, respectively.
• The company is focused on mineral properties in Mexico, holding interests in multiple projects including gold, silver, and copper deposits across various locations.

Minera Alamos Inc. (CVE:MAI - Get Free Report) fell 24.5% during trading on Friday . The stock traded as low as C$0.36 and last traded at C$0.36. 7,736,001 shares traded hands during mid-day trading, an increase of 1,137% from the average session volume of 625,215 shares. The stock had previously closed at C$0.47.

Analyst Upgrades and Downgrades

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

Minera Alamos Price Performance

The stock has a market cap of C$161.44 million, a P/E ratio of -11.43 and a beta of 1.37. The company has a 50 day simple moving average of C$0.39 and a 200 day simple moving average of C$0.36. The company has a current ratio of 4.26, a quick ratio of 3.89 and a debt-to-equity ratio of 21.24.

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.