Minera Alamos (CVE:MAI) Shares Down 24.5% - Should You Sell?

Key Points

• Minera Alamos Inc. stock saw a significant drop of 24.5%, trading at C$0.36 after closing at C$0.47, with trading volume increasing by 1,137%.
• Analysts have upgraded Minera Alamos to a "moderate buy" and "strong-buy" rating in recent reports, indicating potential future confidence in the stock.
• The company's debt-to-equity ratio stands at 21.24, while it has a market cap of C$167.09 million and a negative PE ratio of -11.83.

Shares of Minera Alamos Inc. (CVE:MAI - Get Free Report) were 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 were traded during trading, an increase of 1,137% from the average daily volume of 625,215 shares. The stock had previously closed at C$0.47.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MAI shares. Desjardins upgraded Minera Alamos to a "moderate buy" rating in a report 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 business has a 50 day moving average of C$0.39 and a 200 day moving average of C$0.36. The company has a debt-to-equity ratio of 21.24, a current ratio of 4.26 and a quick ratio of 3.89. The firm has a market capitalization of C$162.38 million, a price-to-earnings ratio of -11.50 and a beta of 1.37.

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.