Minera Alamos (CVE:MAI) Shares Down 24.5% - Here's Why

Key Points

• Minera Alamos shares fell by 24.5% during trading, closing at C$0.36, with an unusually high trading volume of over 7.7 million shares.
• Despite the recent dip, analysts from Desjardins and National Bank Financial have upgraded Minera Alamos to a "moderate buy" and "strong-buy" rating, respectively.
• The company, which focuses on mineral properties in Mexico, has a current ratio of 4.26 and a debt-to-equity ratio of 21.24.

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

Wall Street Analyst Weigh In

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

Minera Alamos Trading Down 2.8%

The business has a 50 day moving average of C$0.39 and a two-hundred day 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. The firm has a market cap of C$162.38 million, a P/E ratio of -11.50 and a beta of 1.37.

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.