Minera Alamos (OTCMKTS:MAIFF) Shares Down 6.5% – Here’s Why

Minera Alamos Inc. (OTCMKTS:MAIFF)’s share price dropped 6.5% during trading on Tuesday . The company traded as low as $3.43 and last traded at $3.4550. 82,758 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 244,710 shares. The stock had previously closed at $3.6960.

Analysts Set New Price Targets

Separately, Scotiabank started coverage on Minera Alamos in a report on Monday, June 15th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy”.

Minera Alamos Stock Up 3.6%

The firm’s fifty day moving average is $4.27 and its 200-day moving average is $4.31.

Minera Alamos Company Profile

Minera Alamos Inc is a Canada-based mineral exploration and development company focused on the acquisition, exploration, development and operation of gold properties in Mexico. The company’s core strategy centers on advancing low‐cost, open‐pit heap‐leach gold projects toward production, leveraging Mexico’s well‐established mining infrastructure and favorable regulatory environment. Headquartered in Vancouver, British Columbia, Minera Alamos trades on the OTC Marketplace under the symbol MAIFF.

Minera Alamos’ flagship asset is the Santana project in Sonora, where a fully permitted open‐pit, heap‐leach operation has been commissioned.