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

Key Points

• Minera Alamos Inc. (CVE:MAI) shares fell dramatically by 24.5%, trading at C$0.36, amidst a surge in trading volume of over 1,137% from its average.
• Analysts have recently upgraded Minera Alamos, with National Bank Financial rating it as a "strong-buy" and Desjardins as a "moderate buy."
• The company's market cap stands at C$167.09 million, and it has significant liquidity ratios, with a quick ratio of 3.89 and a current ratio of 4.26.

Minera Alamos Inc. (CVE:MAI - Get Free Report)'s share price dropped 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 changed hands 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

Several brokerages have recently issued reports on MAI. National Bank Financial upgraded Minera Alamos to a "strong-buy" rating in a research note on Sunday, May 4th. Desjardins upgraded Minera Alamos to a "moderate buy" rating in a research note on Monday, April 28th.

Minera Alamos Stock Performance

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 capitalization of C$162.38 million, a PE ratio of -11.50 and a beta of 1.37. The stock has a 50 day moving average of C$0.39 and a two-hundred day moving average of 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.