Minera Alamos (CVE:MAI) Stock Rating Upgraded by Scotiabank

Minera Alamos (CVE:MAI) was upgraded by analysts at Scotiabank to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

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

Minera Alamos Price Performance

Shares of CVE MAI opened at C$5.83 on Monday. Minera Alamos has a twelve month low of C$3.20 and a twelve month high of C$7.50. The firm has a fifty day simple moving average of C$6.33 and a 200 day simple moving average of C$5.85. The company has a market capitalization of C$641.00 million, a PE ratio of -19.05 and a beta of 1.63. The company has a quick ratio of 3.89, a current ratio of 4.26 and a debt-to-equity ratio of 21.24.

Insider Buying and Selling at Minera Alamos

In related news, insider David Rodger Stewart purchased 15,500 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was purchased at an average cost of C$6.50 per share, with a total value of C$100,750.00. Following the completion of the purchase, the insider owned 87,800 shares in the company, valued at approximately C$570,700. This trade represents a 21.44% increase in their position. Also, insider Darren John Blasutti purchased 15,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was bought at an average cost of C$6.62 per share, with a total value of C$99,300.00. Following the completion of the purchase, the insider owned 826,300 shares of the company’s stock, valued at approximately C$5,470,106. This represents a 1.85% increase in their position. Over the last ninety days, insiders acquired 31,450 shares of company stock valued at $206,105. Insiders own 5.11% of the company’s stock.

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.