Almonty Industries Inc. (NASDAQ:ALM) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Almonty Industries Inc. (NASDAQ:ALM) have received a consensus recommendation of “Moderate Buy” from the five analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $15.1250.

A number of research analysts recently weighed in on ALM shares. DA Davidson set a $25.00 target price on Almonty Industries in a report on Friday. B. Riley Financial raised their price target on Almonty Industries from $10.00 to $17.00 and gave the company a “buy” rating in a report on Friday, February 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Almonty Industries in a report on Monday, December 29th.

Almonty Industries Price Performance

NASDAQ:ALM opened at $19.70 on Tuesday. Almonty Industries has a 12-month low of $3.16 and a 12-month high of $20.88. The firm has a market capitalization of $5.49 billion and a price-to-earnings ratio of -85.65. The stock’s 50 day moving average price is $12.85 and its two-hundred day moving average price is $8.78. The company has a quick ratio of 2.25, a current ratio of 2.38 and a debt-to-equity ratio of 1.02.

Hedge Funds Weigh In On Almonty Industries

Several institutional investors and hedge funds have recently made changes to their positions in ALM. Global Retirement Partners LLC acquired a new stake in Almonty Industries during the 4th quarter worth approximately $35,000. State of Wyoming acquired a new position in Almonty Industries in the 4th quarter valued at $41,000. FNY Investment Advisers LLC acquired a new position in Almonty Industries in the 3rd quarter valued at $30,000. Banque Cantonale Vaudoise bought a new position in Almonty Industries during the 3rd quarter worth $54,000. Finally, Deutsche Bank AG bought a new position in Almonty Industries during the 4th quarter worth $79,000.

About Almonty Industries

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.