Minera Alamos (CVE:MAI) Hits New 1-Year High on Insider Buying Activity

Minera Alamos Inc. (CVE:MAI)’s stock price reached a new 52-week high on Monday after an insider bought additional shares in the company. The company traded as high as C$5.50 and last traded at C$5.44, with a volume of 66840 shares trading hands. The stock had previously closed at C$0.53.

Specifically, insider David Rodger Stewart purchased 12,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was bought at an average price of C$4.35 per share, for a total transaction of C$52,200.00. Following the completion of the transaction, the insider owned 44,500 shares in the company, valued at approximately C$193,575. The trade was a 36.92% increase in their position.

Analysts Set New Price Targets

Several research firms have recently issued reports on MAI. Desjardins lowered their price objective on Minera Alamos from C$1.00 to C$0.90 and set a “buy” rating for the company in a research note on Thursday, September 18th. National Bankshares cut their target price 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. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$0.73.

Minera Alamos Price Performance

The stock has a 50 day moving average of C$0.52 and a 200-day moving average of C$0.44. 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 market capitalization of C$5.61 billion, a P/E ratio of -75.22 and a beta of 1.10.

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.