Minera Alamos (CVE:MAI) Stock Price Down 22.3% - Here's Why

Key Points

• Minera Alamos Inc. shares dropped 22.3% during trading, with prices falling to as low as C$0.36 and last seen at C$0.37.
• Despite the drop, analysts have a positive outlook, with some upgrading the stock to "moderate buy" and "strong-buy" ratings.
• The company focuses on the acquisition, exploration, and development of mineral properties in Mexico, including gold and copper deposits.

Shares of Minera Alamos Inc. (CVE:MAI - Get Free Report) were down 22.3% during trading on Thursday . The company traded as low as C$0.36 and last traded at C$0.37. Approximately 5,092,957 shares were traded during mid-day trading, an increase of 739% from the average daily volume of 606,769 shares. The stock had previously closed at C$0.47.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MAI. Desjardins upgraded shares of Minera Alamos to a "moderate buy" rating in a report on Monday, April 28th. National Bank Financial raised Minera Alamos to a "strong-buy" rating in a report on Sunday, May 4th.

Minera Alamos Trading Down 24.5%

The firm has a market capitalization of C$167.09 million, a P/E ratio of -11.83 and a beta of 1.37. 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 stock has a 50 day simple moving average of C$0.39 and a 200-day simple moving average of C$0.36.

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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