Scotiabank Upgrades Minera Alamos (CVE:MAI) to Strong-Buy

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

Several other equities research analysts also recently issued reports on the stock. National Bank Financial lifted 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 note on Monday, June 1st. Stifel Nicolaus set a C$9.50 price objective on shares of Minera Alamos and gave the company a “buy” rating in a research report on Thursday, March 5th. Two investment analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Strong Buy” and a consensus target price of C$9.33.

Minera Alamos Stock Performance

CVE:MAI opened at C$5.83 on Monday. 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 firm has a market capitalization of C$641.00 million, a price-to-earnings ratio of -19.05 and a beta of 1.63. The firm’s fifty day simple moving average is C$6.33 and its 200 day simple moving average is C$5.85. Minera Alamos has a twelve month low of C$3.20 and a twelve month high of C$7.50.

Insider Transactions at Minera Alamos

In other news, insider David Rodger Stewart bought 15,500 shares of Minera Alamos 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 purchase, the insider directly owned 87,800 shares of the company’s stock, valued at approximately C$570,700. This trade represents a 21.44% increase in their position. Also, insider Darren John Blasutti bought 15,000 shares of Minera Alamos stock in a transaction on Tuesday, June 2nd. The shares were purchased 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 directly owned 826,300 shares in the company, valued at C$5,470,106. This trade represents a 1.85% increase in their ownership of the stock. Insiders have acquired a total of 31,450 shares of company stock valued at $206,105 over the last three months. 5.11% of the stock is currently owned by company insiders.

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.