StockNews.com initiated coverage on shares of Almaden Minerals (NYSEAMERICAN:AAU – Get Rating) (TSE:AMM) in a research note released on Sunday morning. The brokerage issued a sell rating on the basic materials company's stock.

Separately, Alliance Global Partners cut their price target on shares of Almaden Minerals from C$1.00 to C$0.40 and set a buy rating for the company in a research report on Thursday, July 7th.

Almaden Minerals Stock Performance

Almaden Minerals stock opened at $0.24 on Friday. The company has a market capitalization of $32.95 million, a PE ratio of -8.00 and a beta of 0.92. Almaden Minerals has a fifty-two week low of $0.21 and a fifty-two week high of $0.49. The stock has a fifty day moving average price of $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.

Hedge Funds Weigh In On Almaden Minerals

A hedge fund recently raised its stake in Almaden Minerals stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Almaden Minerals Ltd. (NYSEAMERICAN:AAU – Get Rating) (TSE:AMM) by 6.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 as of its most recent SEC filing. 2.91% of the stock is currently owned by institutional investors.

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.

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