Minera Alamos (CVE:MAI) Hits New 52-Week High – Here’s Why

Minera Alamos Inc. (CVE:MAI)’s share price reached a new 52-week high on Monday . The stock traded as high as C$5.68 and last traded at C$5.49, with a volume of 84535 shares trading hands. The stock had previously closed at C$5.15.

Wall Street Analysts Forecast Growth

MAI has been the subject of a number of recent research reports. National Bankshares reduced their price target on shares of Minera Alamos from C$6.50 to C$5.50 and set an “outperform” rating for the company in a research report on Friday, September 19th. Desjardins decreased their target price on shares of Minera Alamos from C$10.00 to C$9.00 and set a “buy” rating for the company in a research report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$7.25.

Minera Alamos Trading Up 6.8%

The stock has a market cap of C$594.24 million, a PE ratio of -79.71 and a beta of 1.10. The company has a debt-to-equity ratio of 21.24, a quick ratio of 3.89 and a current ratio of 4.26. The company has a 50 day moving average of C$4.39 and a two-hundred day moving average of C$4.08.

Insider Transactions at Minera Alamos

In related news, insider David Rodger Stewart bought 1,200 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were acquired at an average price of C$43.50 per share, for a total transaction of C$52,200.00. Following the completion of the transaction, the insider directly owned 4,450 shares in the company, valued at C$193,575. This trade represents a 36.92% increase in their ownership of the stock. Corporate 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.