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

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

Separately, Alliance Global Partners lowered shares of Almaden Minerals from a buy rating to a neutral rating in a report on Thursday, February 23rd.

Almaden Minerals Price Performance

AAU stock opened at $0.21 on Thursday. The firm has a 50 day moving average price of $0.22 and a 200-day moving average price of $0.23. Almaden Minerals has a 52-week low of $0.18 and a 52-week high of $0.39. The firm has a market capitalization of $28.33 million, a price-to-earnings ratio of -10.32 and a beta of 0.95. The company has a debt-to-equity ratio of 0.05, a quick ratio of 26.92 and a current ratio of 26.92.

Hedge Funds Weigh In On Almaden Minerals

Hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new position in Almaden Minerals in the 4th quarter worth approximately $28,000. Susquehanna International Group LLP grew its position in Almaden Minerals by 564.4% in the 4th quarter. Susquehanna International Group LLP now owns 233,188 shares of the basic materials company’s stock worth $57,000 after purchasing an additional 198,088 shares during the period. HRT Financial LP bought a new stake in Almaden Minerals in the 4th quarter worth approximately $64,000. Millennium Management LLC grew its position in Almaden Minerals by 587.9% in the 4th quarter. Millennium Management LLC now owns 485,878 shares of the basic materials company’s stock worth $119,000 after purchasing an additional 415,244 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in Almaden Minerals in the 4th quarter worth approximately $119,000. 3.81% of the stock is currently owned by hedge funds and other institutional investors.

About Almaden Minerals

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Almaden Minerals Ltd. engages in the acquisition, exploration, and development of mineral properties. It focuses on the operation of Ixtaca gold-silver deposit. The company was founded by James Duane Poliquin on February 1, 2002 and is headquartered in Vancouver, Canada.