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

Key Points

• Minera Alamos Inc. (CVE:MAI) shares dropped 24.5% during mid-day trading, reaching a low of C$0.36, significantly above its average session volume of 625,215 shares.
• Despite the recent decline, Wall Street analysts issued positive ratings, with Desjardins upgrading the stock to a "moderate buy" and National Bank Financial to a "strong-buy".
• The company has a market capitalization of C$167.09 million and operates various mining projects, primarily focused on acquiring and exploring mineral properties in Mexico.

Minera Alamos Inc. (CVE:MAI - Get Free Report) shares fell 24.5% during mid-day trading on Thursday . The company 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.

Wall Street Analysts Forecast Growth

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

Minera Alamos Stock Down 24.5%

The firm has a market capitalization of C$167.09 million, a price-to-earnings ratio of -11.83 and a beta of 1.37. The business 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 debt-to-equity ratio of 21.24, a quick ratio of 3.89 and a current ratio of 4.26.

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.

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