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

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

Almaden Minerals Stock Performance

NYSEAMERICAN:AAU opened at $0.24 on Thursday. The stock's 50-day moving average price is $0.24. Almaden Minerals has a 52-week low of $0.21 and a 52-week high of $0.49. The company has a market capitalization of $33.44 million, a P/E ratio of -8.12 and a beta of 0.92. The company has a debt-to-equity ratio of 0.04, a quick ratio of 24.27 and a current ratio of 24.27.

Hedge Funds Weigh In On Almaden Minerals

A hedge fund recently raised its stake in Almaden Minerals stock. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Almaden Minerals Ltd. (NYSEAMERICAN:AAU – Get Rating) (TSE:AMM) by 6.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission. 2.91% of the stock is 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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