The stock of Almaden Minerals Ltd. (NYSE:AAU) is now priced at $0.61 and the shares are 0.03 points up or 5.72% higher compared to its previous closing price of $0.58. The stock had 1.417 million contracts set over the past session. AAU shares’ daily volume is compared to its average trading volume at 424828 shares. However, it has a float of 112 million and although its performance was 11.8% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the AAU share price recently placing at $0.56 to $0.63. However, some brokerage firms have priced the stock below the average, including one that has called $1.14.
The shorts are running away from the Almaden Minerals Ltd. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the AAU shares have declined. Short interest in the stock represents just 1.09% of its float, but the volume has dropped by 0.
In the last trading session, Almaden Minerals Ltd. (NYSE:AAU) raised by $0.0644 over the week and gained $0.1409 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $0.82. The stock recorded its established 52-week high on 08/08/19.
Since 03/23/20, the stock has traded to a low of $0.2121 at 187.6%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.15. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Almaden Minerals Ltd.’s two-week RSI is 67.95. This suggests that the stock is neutral at the moment and that AAU shares’ price movement remains stable. The stochastic readings are equally revealing at 75.76% meaning the AAU share price is currently in oversold territory.
The technical chart shows that the AAU stock will likely settle at between $0.6433 and $0.6767 per share. However, if the stock dips below $0.5833, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.5567.
Currently, the stock is trading in the green of MACD, with a reading of 0.0381. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Elsewhere, the AAU stocks P/S ratio currently stands below the group’s average of 26.2. Almaden Minerals Ltd. has its P/E ratio at 1.3, which means that the stock is currently trading at a discount relative to the 2.8 industry average.