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

Separately, Alliance Global Partners decreased their price target 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 Performance

NYSEAMERICAN:AAU opened at $0.24 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 24.27 and a current ratio of 24.27. The company has a market capitalization of $33.08 million, a P/E ratio of -8.04 and a beta of 0.92. Almaden Minerals has a 52-week low of $0.21 and a 52-week high of $0.49. The stock's 50-day moving average price is $0.24.

Hedge Funds Weigh In On Almaden Minerals

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

Almaden Minerals Company Profile

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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.

Further Reading

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