Minera Alamos (CVE:MAI) Upgraded by Scotiabank to “Strong-Buy” Rating

Scotiabank upgraded shares of Minera Alamos (CVE:MAI) to a strong-buy rating in a report issued on Monday morning,Zacks.com reports.

A number of other equities research analysts also recently weighed in on MAI. National Bank Financial lifted their price target on shares of Minera Alamos from C$8.50 to C$9.50 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Stifel Nicolaus set a C$9.50 target price on shares of Minera Alamos and gave the company a “buy” rating in a research note on Thursday, March 5th. Two investment analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Strong Buy” and a consensus price target of C$9.33.

Minera Alamos Price Performance

MAI opened at C$5.83 on Monday. Minera Alamos has a fifty-two week low of C$3.20 and a fifty-two week high of C$7.50. The company has a debt-to-equity ratio of 21.24, a current ratio of 4.26 and a quick ratio of 3.89. The firm’s fifty day moving average price is C$6.33 and its two-hundred day moving average price is C$5.85. The company has a market capitalization of C$641.00 million, a P/E ratio of -19.05 and a beta of 1.63.

Insider Buying and Selling at Minera Alamos

In other news, insider David Rodger Stewart bought 15,500 shares of Minera Alamos stock in a transaction dated Tuesday, June 2nd. The shares were bought at an average price of C$6.50 per share, for a total transaction of C$100,750.00. Following the purchase, the insider owned 87,800 shares of the company’s stock, valued at approximately C$570,700. This trade represents a 21.44% increase in their ownership of the stock. Also, insider Darren John Blasutti bought 15,000 shares of Minera Alamos stock in a transaction dated Tuesday, June 2nd. The stock was purchased at an average price of C$6.62 per share, for a total transaction of C$99,300.00. Following the purchase, the insider directly owned 826,300 shares in the company, valued at C$5,470,106. This represents a 1.85% increase in their position. Insiders bought a total of 31,450 shares of company stock worth $206,105 in the last 90 days. 5.11% of the stock is owned by corporate 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.