Initiates Coverage on Almaden Minerals (NYSEAMERICAN:AAU) began coverage on shares of Almaden Minerals (NYSEAMERICAN:AAUGet Rating) (TSE:AMM) in a report issued on Thursday. The brokerage set a “sell” rating on the basic materials company’s stock.

Shares of NYSEAMERICAN AAU opened at $0.34 on Thursday. Almaden Minerals has a 52 week low of $0.27 and a 52 week high of $0.60. The business has a 50-day moving average of $0.35. The company has a current ratio of 24.27, a quick ratio of 24.27 and a debt-to-equity ratio of 0.04. The company has a market cap of $46.64 million, a P/E ratio of -11.33 and a beta of 0.92.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC raised its stake in shares of Almaden Minerals by 67.1% in the third quarter. Citadel Advisors LLC now owns 64,821 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 26,024 shares during the last quarter. Millennium Management LLC increased its position in Almaden Minerals by 74.0% during the second quarter. Millennium Management LLC now owns 89,017 shares of the basic materials company’s stock valued at $45,000 after acquiring an additional 37,847 shares during the last quarter. Virtu Financial LLC purchased a new stake in Almaden Minerals during the fourth quarter valued at $87,000. Finally, Renaissance Technologies LLC purchased a new stake in Almaden Minerals in the fourth quarter worth about $142,000. Institutional investors 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, and development of mineral properties in Canada and Mexico. The company primarily explores for gold, silver, and copper deposits. Its principal property is the Tuligtic Property/Ixtaca Project that covers an area of approximately 7,200 hectares located in Puebla State, Mexico.

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