Almaden Minerals (NYSEAMERICAN:AAU) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of Almaden Minerals (NYSEAMERICAN:AAUGet Rating) (TSE:AMM) in a report released on Wednesday. The firm set a “sell” rating on the basic materials company’s stock.

Shares of Almaden Minerals stock opened at $0.24 on Wednesday. The stock’s fifty day simple moving average is $0.29. The stock has a market cap of $33.00 million, a PE ratio of -8.02 and a beta of 0.92. Almaden Minerals has a 1-year low of $0.22 and a 1-year high of $0.51. The company has a quick ratio of 24.27, a current ratio of 24.27 and a debt-to-equity ratio of 0.04.

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

A hedge fund recently raised its stake in Almaden Minerals stock. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Almaden Minerals Ltd. (NYSEAMERICAN:AAUGet Rating) (TSE:AMM) by 6.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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. Institutional investors and hedge funds own 2.91% of the company’s stock.

About Almaden Minerals (Get Rating)

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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