Almaden Minerals downgraded to Neutral from Buy at Alliance Global Partners

Alliance Global Partners analyst Jake Sekelsky downgraded Almaden Minerals to Neutral from Buy with a price target of 20c, down from 40c, after Almaden announced that the Mexican Ministry of Economy made a submission to the Second District Court in Puebla State to deny Almaden’s two mineral title applications. While Almaden intends to submit challenges to Economia’s submission in "short order," he firm believes this decision introduces significant uncertainty pertaining to the ultimate outcome regarding the title claims that were first granted in 2003 and 2009.