Minera Alamos (CVE:MAI) Trading Down 24.5% - Here's Why

Key Points

• Minera Alamos Inc. experienced a significant stock price drop of 24.5%, falling to C$0.36 during mid-day trading, with a trading volume increase of 1,137% compared to average session volume.
• Analysts have made positive ratings adjustments, with National Bank Financial upgrading the stock to a "strong-buy" rating and Desjardins raising it to a "moderate buy".
• The company focuses on mineral properties in Mexico, specifically exploring for gold, silver, molybdenum, and copper deposits across various projects.

Minera Alamos Inc. (CVE:MAI - Get Free Report)'s stock price was down 24.5% during trading on Friday . The company traded as low as C$0.36 and last traded at C$0.36. Approximately 7,736,001 shares traded 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 Ratings Changes

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

Minera Alamos Stock Down 2.8%

The company has a market cap of C$162.38 million, a P/E ratio of -11.50 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's 50 day moving average is C$0.39 and its 200 day moving average is 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.