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

Minera Alamos Inc. (CVE:MAI) hit a new 52-week high during trading on Wednesday . The stock traded as high as C$0.50 and last traded at C$0.49, with a volume of 3979543 shares traded. The stock had previously closed at C$0.48.

Wall Street Analysts Forecast Growth

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

Minera Alamos Stock Up 4.2%

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 stock has a 50 day simple moving average of C$0.41 and a 200 day simple moving average of C$0.40. The firm has a market capitalization of C$529.90 million, a PE ratio of -7.17 and a beta of 1.04.

Insider Activity at Minera Alamos

In other news, insider David Rodger Stewart bought 120,000 shares of Minera Alamos stock in a transaction on Monday, December 15th. The shares were purchased at an average price of C$0.44 per share, for a total transaction of C$52,800.00. Following the acquisition, the insider owned 445,000 shares of the company’s stock, valued at approximately C$195,800. The trade was a 36.92% increase in their ownership of the stock. 5.11% of the stock is currently 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.