Zacks Investment Research Lowers Golden Minerals (NYSEAMERICAN:AUMN) to Strong Sell

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Golden Minerals (NYSEAMERICAN:AUMN) (TSE:AUM) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday, reports.

According to Zacks, “Golden Minerals Company is a mining company with a focus on exploration, development, providing mine services, and growth through strategic business transactions. The Company has many exploration projects, primarily located in Argentina, Peru, Chile and Mexico, including the advanced-stage El Quevar project in the Salta Province of northwestern Argentina and the Zacatecas project in Mexico. Currently, Golden Minerals manages the San Cristóbal silver and zinc mine in Bolivia, one of the largest open pit silver, zinc and lead mines and processing facilities in the world. The Company intends to identify and capitalize on other opportunities to earn fees or equity interests in mine development projects or mining operations. Golden Minerals is also actively pursuing growth through strategic opportunities, including acquisitions, joint ventures and asset consolidations. Golden Minerals Company is based in Golden, Colorado. “

AUMN stock traded down $0.04 during trading on Tuesday, reaching $0.80. The stock had a trading volume of 135,723 shares, compared to its average volume of 3,541,396. Golden Minerals has a 52 week low of $0.13 and a 52 week high of $1.30. The stock’s 50 day moving average is $0.69 and its two-hundred day moving average is $0.53. The firm has a market cap of $121.21 million, a PE ratio of -16.00 and a beta of 1.33.

Golden Minerals (NYSEAMERICAN:AUMN) (TSE:AUM) last posted its earnings results on Wednesday, February 17th. The basic materials company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Golden Minerals had a negative return on equity of 94.11% and a negative net margin of 89.46%. Research analysts predict that Golden Minerals will post -0.06 EPS for the current fiscal year.

In related news, major shareholder Global Resources Fund Sentient sold 195,551 shares of Golden Minerals stock in a transaction that occurred on Friday, February 19th. The stock was sold at an average price of $0.83, for a total transaction of $162,307.33. Following the sale, the insider now owns 2,063,929 shares of the company’s stock, valued at approximately $1,713,061.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.59% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AUMN. United Capital Management of KS Inc. purchased a new position in Golden Minerals during the 4th quarter valued at approximately $33,000. Squarepoint Ops LLC purchased a new position in Golden Minerals during the 3rd quarter valued at approximately $138,000. Finally, ETF Managers Group LLC grew its holdings in Golden Minerals by 29.1% during the 4th quarter. ETF Managers Group LLC now owns 1,032,790 shares of the basic materials company’s stock valued at $751,000 after buying an additional 232,818 shares in the last quarter. Institutional investors and hedge funds own 3.46% of the company’s stock.

About Golden Minerals

Golden Minerals Company, a precious metals exploration and development company, mines, constructs, and explores for mineral properties containing precious metals. It explores for gold, silver, zinc, lead, and other minerals. The company holds a 100% interest in the Velardeña and Chicago precious metals mining properties and associated oxide and sulfide processing plants located in the State of Durango, Mexico.

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