Minera Alamos (CVE:MAI) Reaches New 1-Year High – Time to Buy?

Minera Alamos Inc. (CVE:MAI)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as C$5.68 and last traded at C$5.49, with a volume of 84535 shares changing hands. The stock had previously closed at C$5.15.

Analyst Ratings Changes

Several research analysts have issued reports on the company. National Bankshares dropped their price objective on Minera Alamos from C$6.50 to C$5.50 and set an “outperform” rating for the company in a research note on Friday, September 19th. Desjardins cut their price objective on shares of Minera Alamos from C$10.00 to C$9.00 and set a “buy” rating on the stock in a report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$7.25.

Minera Alamos Trading Up 8.0%

The business has a fifty day simple moving average of C$4.46 and a 200-day simple moving average of C$4.11. 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 firm has a market cap of C$642.86 million, a price-to-earnings ratio of -8.62 and a beta of 1.10.

Insider Activity

In other news, insider David Rodger Stewart acquired 1,200 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was purchased at an average price of C$43.50 per share, for a total transaction of C$52,200.00. Following the purchase, the insider owned 4,450 shares in the company, valued at approximately C$193,575. This represents a 36.92% increase in their position. 5.11% of the stock is currently owned by insiders.

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.