Minera Alamos (CVE:MAI) Sets New 52-Week High – Time to Buy?

Minera Alamos Inc. (CVE:MAI)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as C$0.54 and last traded at C$0.52, with a volume of 3945842 shares trading hands. The stock had previously closed at C$0.51.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MAI shares. National Bankshares reduced their price target on Minera Alamos from C$0.65 to C$0.55 and set an “outperform” rating on the stock in a research report on Friday, September 19th. Desjardins dropped their price objective on Minera Alamos from C$1.00 to C$0.90 and set a “buy” rating for the company in a report on Thursday, September 18th. One research 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, Minera Alamos has a consensus rating of “Buy” and an average target price of C$0.73.

Minera Alamos Trading Up 2.0%

The company’s fifty day simple moving average is C$0.42 and its two-hundred day simple moving average is C$0.40. The company has a market capitalization of C$556.66 million, a price-to-earnings ratio of -7.54 and a beta of 1.04. 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 Transactions at Minera Alamos

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