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

Key Points

• Minera Alamos Inc. (CVE:MAI) saw its stock price drop by 24.5%, closing at C$0.36, following a significant increase in trading volume.
• Equities analysts from National Bank Financial and Desjardins have upgraded the stock to "strong-buy" and "moderate buy" ratings, respectively.
• The company has a market cap of C$167.09 million and focuses on the acquisition and development of mineral properties in Mexico, including gold and silver deposits.

Minera Alamos Inc. (CVE:MAI - Get Free Report) was down 24.5% during trading on Friday . The stock traded as low as C$0.36 and last traded at C$0.36. Approximately 7,736,001 shares were traded 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 research firms have recently weighed in on MAI. National Bank Financial raised shares of Minera Alamos to a "strong-buy" rating in a research report on Sunday, May 4th. Desjardins upgraded shares of Minera Alamos to a "moderate buy" rating in a research note on Monday, April 28th.

Minera Alamos Stock Performance

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