StockNews.com Initiates Coverage on Almaden Minerals (NYSEAMERICAN:AAU)

Equities researchers at StockNews.com assumed coverage on shares of Almaden Minerals (NYSEAMERICAN:AAU – Get Rating) (TSE:AMM) in a research note issued on Friday. The brokerage set a “sell” rating on the basic materials company’s stock.

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

Almaden Minerals Trading Up 6.8 %

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

Institutional Trading of Almaden Minerals

Several institutional investors and hedge funds have recently modified their holdings of AAU. Renaissance Technologies LLC bought a new stake in shares of Almaden Minerals during the 4th quarter valued at $119,000. Millennium Management LLC grew its stake in Almaden Minerals by 587.9% during the fourth quarter. Millennium Management LLC now owns 485,878 shares of the basic materials company’s stock valued at $119,000 after acquiring an additional 415,244 shares in the last quarter. HRT Financial LP purchased a new position in Almaden Minerals during the fourth quarter valued at $64,000. Susquehanna International Group LLP grew its stake in Almaden Minerals by 564.4% during the fourth quarter. Susquehanna International Group LLP now owns 233,188 shares of the basic materials company’s stock valued at $57,000 after acquiring an additional 198,088 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in Almaden Minerals during the fourth quarter valued at $28,000. 3.81% of the stock is currently owned by institutional investors.

Almaden Minerals Company Profile

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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.