Minera Alamos (CVE:MAI) Stock Price Down 24.5% - Here's What Happened

Key Points

• Minera Alamos Inc. shares fell 24.5% on Thursday, trading at C$0.36, with a significant increase in trading volume of 1,137% compared to the average.
• Despite the stock decline, analysts have upgraded Minera Alamos to a "moderate buy" and "strong-buy" rating in recent reports.
• The company, engaged in mineral exploration in Mexico, has a market capitalization of C$167.09 million and reported a PE ratio of -11.83.

Shares of Minera Alamos Inc. (CVE:MAI - Get Free Report) were down 24.5% on Thursday . The stock traded as low as C$0.36 and last traded at C$0.36. Approximately 7,736,001 shares changed hands during mid-day trading, an increase of 1,137% from the average daily volume of 625,215 shares. The stock had previously closed at C$0.47.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Desjardins upgraded Minera Alamos to a "moderate buy" rating in a research note on Monday, April 28th. National Bank Financial upgraded Minera Alamos to a "strong-buy" rating in a research note on Sunday, May 4th.

Minera Alamos Stock Down 24.5%

The company's 50 day simple moving average is C$0.39 and its 200-day simple moving average is 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. The firm has a market capitalization of C$167.09 million, a PE ratio of -11.83 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.

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