Begins Coverage on Almaden Minerals (NYSEAMERICAN:AAU) began coverage on shares of Almaden Minerals (NYSEAMERICAN:AAUGet Rating) (TSE:AMM) in a research note issued to investors on Wednesday. The firm issued a sell rating on the basic materials company’s stock.

Separately, Alliance Global Partners reduced their target price 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 Trading Down 2.4 %

Shares of NYSEAMERICAN:AAU opened at $0.24 on Wednesday. Almaden Minerals has a 12-month low of $0.21 and a 12-month high of $0.49. The firm has a market capitalization of $33.08 million, a P/E ratio of -8.04 and a beta of 0.92. The firm has a 50 day moving average of $0.24. The company has a debt-to-equity ratio of 0.04, a current ratio of 24.27 and a quick ratio of 24.27.

Almaden Minerals (NYSEAMERICAN:AAUGet Rating) (TSE:AMM) last announced its quarterly earnings results on Friday, May 13th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Almaden Minerals stock. Mirae Asset Global Investments Co. Ltd. boosted its position in Almaden Minerals Ltd. (NYSEAMERICAN:AAUGet Rating) (TSE:AMM) by 6.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,644,080 shares of the basic materials company’s stock after purchasing an additional 152,310 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 1.93% of Almaden Minerals worth $948,000 at the end of the most recent reporting period. Institutional investors own 2.91% of the company’s stock.

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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