Minera Alamos (CVE:MAI) Shares Down 3.8% – Here’s What Happened

Minera Alamos Inc. (CVE:MAI)’s share price was down 3.8% during trading on Tuesday . The stock traded as low as C$0.39 and last traded at C$0.39. Approximately 442,265 shares traded hands during trading, a decline of 57% from the average daily volume of 1,029,838 shares. The stock had previously closed at C$0.40.

Wall Street Analyst Weigh In

MAI has been the topic of a number of analyst reports. Desjardins decreased their target price on shares of Minera Alamos from C$1.00 to C$0.90 and set a “buy” rating on the stock in a research report on Thursday, September 18th. National Bankshares dropped their price objective on Minera Alamos from C$0.65 to C$0.55 and set an “outperform” rating for the company in a report on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to data from MarketBeat, Minera Alamos presently has an average rating of “Buy” and an average price target of C$0.73.

Minera Alamos Stock Down 3.8%

The stock’s 50-day moving average price is C$0.40 and its two-hundred day moving average price is C$0.38. The stock has a market capitalization of C$407.29 million, a PE ratio of -4.53 and a beta of 1.12. The company has a debt-to-equity ratio of 21.24, a quick ratio of 3.89 and a current ratio of 4.26.

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.