Minera Alamos (CVE:MAI) Shares Down 24.5% - Time to Sell?

Key Points

• Minera Alamos Inc. shares experienced a significant drop of 24.5% during trading, closing at C$0.36, following an increase in trading volume by 1,137% from the average daily volume.
• Recent analyst reports have upgraded Minera Alamos to a "strong-buy" rating by National Bank Financial and a "moderate buy" by Desjardins.
• The company has a market capitalization of C$167.09 million and is engaged in the exploration of various mineral deposits including gold and silver in Mexico.

Minera Alamos Inc. (CVE:MAI - Get Free Report)'s share price fell 24.5% on Thursday . The stock traded as low as C$0.36 and last traded at C$0.36. 7,736,001 shares traded hands 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.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MAI. National Bank Financial upgraded Minera Alamos to a "strong-buy" rating in a report on Sunday, May 4th. Desjardins upgraded Minera Alamos to a "moderate buy" rating in a report on Monday, April 28th.

Minera Alamos Stock Performance

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 company has a market capitalization of C$162.38 million, a P/E ratio of -11.50 and a beta of 1.37. The company's fifty day simple moving average is C$0.39 and its 200-day simple moving average is C$0.36.

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.