Minera Alamos (CVE:MAI) Reaches New 52-Week High After Insider Buying Activity

Minera Alamos Inc. (CVE:MAI)’s share price reached a new 52-week high during trading on Monday after an insider bought additional shares in the company. The stock traded as high as C$5.50 and last traded at C$5.44, with a volume of 66840 shares trading hands. The stock had previously closed at C$0.53.

Specifically, insider David Rodger Stewart bought 12,000 shares of the stock in a transaction dated Monday, December 15th. The shares were purchased at an average price of C$4.35 per share, with a total value of C$52,200.00. Following the completion of the acquisition, the insider owned 44,500 shares of the company’s stock, valued at C$193,575. This represents a 36.92% increase in their ownership of the stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Desjardins cut their target price on shares of Minera Alamos from C$1.00 to C$0.90 and set a “buy” rating for the company in a research note on Thursday, September 18th. National Bankshares dropped their price objective on shares of 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 assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$0.73.

Minera Alamos Price Performance

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’s 50-day moving average price is C$0.43 and its 200-day moving average price is C$0.40. The stock has a market capitalization of C$5.72 billion, a PE ratio of -76.67 and a beta of 1.10.

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.