StockNews.com Initiates Coverage on Almaden Minerals (NYSEAMERICAN:AAU)

Equities researchers at StockNews.com began coverage on shares of Almaden Minerals (NYSEAMERICAN:AAU – Get Rating) (TSE:AMM) in a report released on Thursday. The firm set a “sell” rating on the basic materials company’s stock.

Separately, Alliance Global Partners lowered their price objective on Almaden Minerals from C$1.00 to C$0.40 and set a “buy” rating for the company in a research note on Thursday, July 7th.

Almaden Minerals Stock Down 2.4 %

Shares of NYSEAMERICAN AAU opened at $0.24 on Thursday. Almaden Minerals has a fifty-two week low of $0.21 and a fifty-two week high of $0.49. The company’s 50 day simple moving average is $0.24. The company has a current ratio of 24.27, a quick ratio of 24.27 and a debt-to-equity ratio of 0.04. The firm has a market cap of $33.08 million, a price-to-earnings ratio of -8.04 and a beta of 0.92.

Almaden Minerals (NYSEAMERICAN:AAU – Get Rating) (TSE:AMM) last issued its quarterly earnings data on Friday, May 13th. The basic materials company reported ($0.01) earnings per share for the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Almaden Minerals stock. Mirae Asset Global Investments Co. Ltd. increased its stake in Almaden Minerals Ltd. (NYSEAMERICAN:AAU – Get Rating) (TSE:AMM) by 6.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,644,080 shares of the basic materials company’s stock after purchasing an additional 152,310 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 1.93% of Almaden Minerals worth $948,000 at the end of the most recent reporting period. 2.91% of the stock is owned by institutional investors and hedge funds.

About Almaden Minerals

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Almaden Minerals Ltd., an exploration stage company, engages in the acquisition, exploration, evaluation, and development of mineral properties. It primarily owns a 100% interest in the Ixtaca gold-silver project located in Puebla State, Mexico. The company was incorporated in 1980 and is headquartered in Vancouver, Canada.