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

Key Points

• Minera Alamos Inc. shares have dropped 24.5%, trading as low as C$0.36 during mid-day trading, significantly higher trading volume compared to its average.
• Despite the share price decline, National Bank Financial and Desjardins have upgraded the stock ratings to "strong-buy" and "moderate buy,” respectively.
• The company's financials reflect a quick ratio of 3.89 and a market cap of C$167.09 million, indicating strong liquidity despite its current share price struggles.

Minera Alamos Inc. (CVE:MAI - Get Free Report)'s share price fell 24.5% during mid-day trading on Friday . The stock traded as low as C$0.36 and last traded at C$0.36. 7,736,001 shares were traded 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.

Analysts Set New Price Targets

Several research firms recently issued reports on MAI. National Bank Financial upgraded 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 research note on Monday, April 28th.

Minera Alamos Stock Down 2.8%

The firm has a 50 day simple moving average of C$0.39 and a two-hundred day simple moving average of C$0.36. The company has a debt-to-equity ratio of 21.24, a current ratio of 4.26 and a quick ratio of 3.89. 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.

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.