Minera Alamos (CVE:MAI) Stock Price Down 22.3% - Time to Sell?

Key Points

• Minera Alamos Inc. (CVE:MAI) shares fell by 22.3% during mid-day trading, reaching a low of C$0.36, with a significant increase in trading volume of 7,180,490 shares.
• Analysts have recently upgraded the stock's rating, with National Bank Financial labeling it a "strong-buy" and Desjardins assigning it a "moderate buy."
• The company has a market capitalization of C$167.09 million and is focused on the acquisition and operation of mineral properties in Mexico, exploring for various deposits, including gold and silver.

Shares of Minera Alamos Inc. (CVE:MAI - Get Free Report) dropped 22.3% during mid-day trading on Thursday . The company traded as low as C$0.36 and last traded at C$0.37. Approximately 7,180,490 shares changed hands during mid-day trading, an increase of 1,066% from the average daily volume of 616,071 shares. The stock had previously closed at C$0.47.

Analysts Set New Price Targets

MAI has been the subject of a number of recent analyst 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 Price Performance

The stock has a market capitalization of C$167.09 million, a price-to-earnings ratio of -11.83 and a beta of 1.37. The company has a quick ratio of 3.89, a current ratio of 4.26 and a debt-to-equity ratio of 21.24. The business has a 50-day simple moving average of C$0.39 and a two-hundred day simple moving average of C$0.36.

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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