Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Minera Alamos ( (TSE:MAI) ) has issued an update.
Minera Alamos announced that a subsidiary of Equinox Gold Corp. has agreed to sell 9,680,281 of the company’s common shares to a group of strategic investors at C$5.80 per share, for total proceeds of about C$56.1 million to the seller. The block trade, which includes a C$3.0 million purchase by Minera Alamos’ Executive Vice President of Corporate Development, represents a significant secondary-market reallocation of ownership tied to shares originally issued as partial consideration for the acquisition of the Pan Operating Complex in Nevada, signaling increased insider and strategic investor alignment with the company’s growth strategy without diluting existing shareholders.
The most recent analyst rating on (TSE:MAI) stock is a Sell with a C$5.50 price target. To see the full list of analyst forecasts on Minera Alamos stock, see the TSE:MAI Stock Forecast page.
Spark’s Take on TSE:MAI Stock
According to Spark, TipRanks’ AI Analyst, TSE:MAI is a Neutral.
The score is held down primarily by weak financial performance, led by severe cash burn and losses despite some revenue growth. Technicals are supportive of an ongoing uptrend but appear overbought, adding near-term pullback risk. Valuation is constrained by negative earnings (negative P/E) and no provided dividend yield.
To see Spark’s full report on TSE:MAI stock, click here.
More about Minera Alamos
Minera Alamos is a growing North American gold production and development company with operating and advanced-stage assets across the United States and Mexico. Its portfolio includes the Pan heap leach gold mine and adjacent Gold Rock project plus the Illipah project in Nevada, the Copperstone mine in Arizona, and several 100%-owned Mexican projects such as the producing Santana open-pit, heap-leach mine in Sonora, the Cerro de Oro oxide gold project in Zacatecas, and the La Fortuna open pit gold project in Durango. Built around a team that has brought multiple open-pit heap leach gold mines into production over the last 14 years, the company aims to become an Americas-focused intermediate gold producer by expanding output at the Pan Operating Complex and advancing a pipeline of low-capital, high-quality gold projects.
Average Trading Volume: 288,689
Technical Sentiment Signal: Buy
Current Market Cap: C$653.7M
See more insights into MAI stock on TipRanks’ Stock Analysis page.