Minera Alamos (CVE:MAI) Hits New 12-Month High – Still a Buy?

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MAI shares. Desjardins lowered their price objective on Minera Alamos from C$10.00 to C$9.00 and set a “buy” rating on the stock in a research note on Thursday, September 18th. National Bankshares reduced their price target on Minera Alamos from C$6.50 to C$5.50 and set an “outperform” rating on the stock in a report on Friday, September 19th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$7.25.

Minera Alamos Trading Up 6.8%

The business has a fifty day moving average price of C$4.39 and a two-hundred day moving average price of C$4.08. 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 capitalization of C$594.24 million, a PE ratio of -79.71 and a beta of 1.10.

Insiders Place Their Bets

In other Minera Alamos news, insider David Rodger Stewart purchased 12,000 shares of the business’s stock in a transaction on Monday, December 15th. The shares were bought at an average cost of C$4.40 per share, for a total transaction of C$52,800.00. Following the completion of the purchase, the insider directly owned 44,500 shares of the company’s stock, valued at approximately C$195,800. This trade represents a 36.92% increase in their ownership of the stock. 5.11% of the stock is currently owned by corporate insiders.

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.