Insider Buying: Minera Alamos (CVE:MAI) Insider Acquires 15,000 Shares of Stock

Minera Alamos Inc. (CVE:MAI) insider Darren John Blasutti acquired 15,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was bought at an average cost of C$6.62 per share, for a total transaction of C$99,300.00. Following the completion of the transaction, the insider directly owned 826,300 shares of the company’s stock, valued at approximately C$5,470,106. This trade represents a 1.85% increase in their ownership of the stock.

Minera Alamos Stock Performance

Shares of MAI traded down C$0.64 during trading hours on Tuesday, hitting C$6.47. The company had a trading volume of 294,976 shares, compared to its average volume of 426,479. Minera Alamos Inc. has a 12 month low of C$3.20 and a 12 month high of C$7.50. The firm has a market cap of C$711.37 million, a price-to-earnings ratio of -21.14 and a beta of 1.93. The business has a fifty day moving average of C$6.33 and a 200-day moving average of C$5.71. The company has a quick ratio of 3.89, a current ratio of 4.26 and a debt-to-equity ratio of 21.24.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MAI. Stifel Nicolaus set a C$9.50 price target on shares of Minera Alamos and gave the stock a “buy” rating in a research report on Thursday, March 5th. National Bank Financial raised their price target on shares of Minera Alamos from C$8.50 to C$9.50 and gave the stock an “outperform” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, Minera Alamos currently has an average rating of “Buy” and a consensus target price of C$9.33.

About Minera Alamos

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.