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

Minera Alamos logo with Basic Materials background

Key Points

  • Minera Alamos Inc. shares fell by 24.5% to C$0.36, with trading volume increasing to approximately 7.7 million shares, a significant jump from the average of 625,215 shares.
  • Despite the recent drop, investment analysts from National Bank Financial and Desjardins have upgraded Minera Alamos to "strong-buy" and "moderate buy" ratings, respectively.
  • The company has a market capitalization of C$162.38 million and maintains a debt-to-equity ratio of 21.24, indicating significant leverage.
  • Looking to Export and Analyze Minera Alamos Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

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

Analysts Set New Price Targets

MAI has been the topic of a number of analyst reports. Desjardins upgraded shares of Minera Alamos to a "moderate buy" rating in a research report on Monday, April 28th. National Bank Financial raised Minera Alamos to a "strong-buy" rating in a research note on Sunday, May 4th.

Get Our Latest Stock Analysis on Minera Alamos

Minera Alamos Trading Down 2.8%

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

Minera Alamos Company Profile

(Get Free Report)

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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