Minera Alamos (CVE:MAI) Trading Down 24.5% - Should You 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) shares were down 24.5% during trading on Thursday . 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.

Analysts Set New Price Targets

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

Minera Alamos Price Performance

The company has a 50 day moving average of C$0.39 and a 200 day moving average of C$0.36. The company has a current ratio of 4.26, a quick ratio of 3.89 and a debt-to-equity ratio of 21.24. The firm has a market cap of C$167.09 million, a price-to-earnings ratio of -11.83 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.

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