Minera Alamos (CVE:MAI) Shares Down 24.5% - What's Next?

Key Points

• Minera Alamos Inc. (CVE:MAI) experienced a significant stock price decline of 24.5%, trading as low as C$0.36, amid a surge in trading volume.
• Despite the drop, analysts have issued positive ratings, with Desjardins upgrading the stock to a "moderate buy" and National Bank Financial recommending a "strong-buy."
• The company's market cap is C$167.09 million, with financial ratios indicating a high liquidity position but a negative P/E ratio.

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

Analyst Ratings Changes

Several brokerages have issued reports on MAI. 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 2.8%

The stock's 50 day moving average is C$0.39 and its 200 day moving average is C$0.36. The company has a market capitalization of C$162.38 million, a PE ratio of -11.50 and a beta of 1.37. 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.