Insider Buying: Minera Alamos (CVE:MAI) Insider Buys 15,500 Shares of Stock

Minera Alamos Inc. (CVE:MAI) insider David Rodger Stewart bought 15,500 shares of the 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 represents a 21.44% increase in their position.

Minera Alamos Trading Down 9.0%

CVE:MAI traded down C$0.64 during trading hours on Tuesday, hitting C$6.47. The stock had a trading volume of 294,976 shares, compared to its average volume of 426,479. Minera Alamos Inc. has a one year low of C$3.20 and a one year high of C$7.50. 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 market cap of C$711.37 million, a price-to-earnings ratio of -21.14 and a beta of 1.93. The business’s 50 day moving average is C$6.33 and its 200-day moving average is C$5.71.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MAI shares. Stifel Nicolaus set a C$9.50 target price on shares of Minera Alamos and gave the company a “buy” rating in a research note on Thursday, March 5th. National Bank Financial upped their price target on shares of Minera Alamos from C$8.50 to C$9.50 and gave the company an “outperform” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to MarketBeat, Minera Alamos presently has a consensus rating of “Buy” and an average target price of C$9.33.

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.