Minera Alamos (CVE:MAI) Shares Down 2.6% - Here's What Happened

Key Points

• Minera Alamos Inc. shares fell 2.6% to C$0.45 during trading, with approximately 1 million shares traded, marking a 7% increase from its average daily volume.
• Recent analyst updates included a price target reduction by Desjardins from C$1.00 to C$0.90, while National Bankshares lowered theirs from C$0.65 to C$0.55, with both maintaining positive ratings on the stock.
• The company has a market cap of C$479.22 million and primarily focuses on the acquisition and operation of mineral properties in Mexico, including gold and silver deposits.

Minera Alamos Inc. (CVE:MAI - Get Free Report)'s share price was down 2.6% during trading on Monday . The company traded as low as C$0.45 and last traded at C$0.45. Approximately 1,072,951 shares traded hands during mid-day trading, an increase of 7% from the average daily volume of 1,005,432 shares. The stock had previously closed at C$0.47.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Desjardins dropped their price target on Minera Alamos from C$1.00 to C$0.90 and set a "buy" rating for the company in a research report on Thursday, September 18th. National Bankshares dropped their price target on Minera Alamos from C$0.65 to C$0.55 and set an "outperform" rating for the company in a research report on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of C$0.73.

Minera Alamos Trading Down 2.6%

The stock has a market cap of C$479.22 million, a PE ratio of -5.34 and a beta of 0.87. The business has a 50-day moving average of C$0.38 and a 200 day moving average of C$0.38. The company has a debt-to-equity ratio of 21.24, a quick ratio of 3.89 and a current ratio of 4.26.

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.

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