Almonty Industries (NASDAQ:ALM) Given “Buy” Rating at DA Davidson

Almonty Industries (NASDAQ:ALM)‘s stock had its “buy” rating reissued by investment analysts at DA Davidson in a research report issued on Friday,Benzinga reports. They currently have a $12.00 target price on the stock. DA Davidson’s price objective points to a potential upside of 44.23% from the company’s current price.

A number of other research analysts also recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Almonty Industries in a report on Monday. Wall Street Zen upgraded Almonty Industries from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Oppenheimer raised their price target on shares of Almonty Industries from $7.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 15th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.17.

Almonty Industries Stock Performance

NASDAQ ALM traded down $0.03 on Friday, reaching $8.32. The company had a trading volume of 1,961,977 shares, compared to its average volume of 1,992,512. The stock’s fifty day moving average price is $7.14. The firm has a market cap of $2.11 billion and a price-to-earnings ratio of -36.17. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 16.37. Almonty Industries has a 1-year low of $3.16 and a 1-year high of $10.68.

Hedge Funds Weigh In On Almonty Industries

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fifth Lane Capital LP acquired a new stake in shares of Almonty Industries during the 3rd quarter worth about $75,000. TD Asset Management Inc bought a new position in Almonty Industries in the 3rd quarter valued at about $913,000. Telemark Asset Management LLC acquired a new stake in Almonty Industries during the third quarter worth approximately $7,839,000. Serenus Wealth Advisors LLC bought a new stake in shares of Almonty Industries during the third quarter worth approximately $121,000. Finally, PNC Financial Services Group Inc. bought a new stake in shares of Almonty Industries during the third quarter worth approximately $157,000.

Almonty Industries Company Profile

Almonty Industries is a Canada-based mining company focused on the production, development and acquisition of tungsten assets. The company’s principal business activity is the mining and processing of tungsten-bearing ore to produce tungsten concentrates for industrial customers. Almonty pursues both operating mines and advanced-stage development projects with the objective of supplying a critical raw material used in hardmetals, tooling, drilling and other industrial applications.

Almonty’s asset footprint has historically included operating and development projects in Europe and Asia.