Almonty Industries (NASDAQ:ALM) Sets New 12-Month High – Should You Buy?

Almonty Industries Inc. (NASDAQ:ALM) hit a new 52-week high on Thursday . The company traded as high as $17.31 and last traded at $16.70, with a volume of 3073381 shares. The stock had previously closed at $16.58.

Analyst Ratings Changes

A number of analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Almonty Industries in a research report on Monday, December 29th. DA Davidson lifted their price objective on Almonty Industries from $12.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. B. Riley Financial upped their target price on Almonty Industries from $10.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Finally, Wall Street Zen raised Almonty Industries from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.38.

Almonty Industries Trading Up 3.1%

The firm’s 50 day simple moving average is $11.61 and its two-hundred day simple moving average is $8.16. The stock has a market capitalization of $5.12 billion and a P/E ratio of -79.95. The company has a quick ratio of 2.25, a current ratio of 2.38 and a debt-to-equity ratio of 1.02.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new stake in Almonty Industries in the third quarter valued at approximately $30,000. Global Retirement Partners LLC bought a new position in shares of Almonty Industries in the 4th quarter worth $35,000. State of Wyoming bought a new position in shares of Almonty Industries in the 4th quarter worth $41,000. Banque Cantonale Vaudoise acquired a new stake in Almonty Industries in the 3rd quarter valued at $54,000. Finally, MCF Advisors LLC bought a new stake in Almonty Industries during the 3rd quarter valued at $60,000.

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.