Almonty Industries (NASDAQ:ALM) Hits New 1-Year High – Here’s What Happened

Almonty Industries Inc. (NASDAQ:ALM)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $21.33 and last traded at $21.1880, with a volume of 1935979 shares traded. The stock had previously closed at $19.70.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ALM shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Almonty Industries in a research report on Monday, December 29th. B. Riley Financial lifted their target price on Almonty Industries from $10.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Finally, DA Davidson set a $25.00 price target on shares of Almonty Industries in a report on Friday, March 6th. 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, Almonty Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.13.

Almonty Industries Trading Up 4.7%

The firm has a 50 day moving average of $13.37 and a 200 day moving average of $8.99. The firm has a market cap of $6.21 billion and a PE ratio of -96.87. 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 made changes to their positions in the company. Global Retirement Partners LLC purchased a new stake in Almonty Industries in the 4th quarter worth about $35,000. State of Wyoming purchased a new stake in Almonty Industries during the fourth quarter valued at about $41,000. FNY Investment Advisers LLC purchased a new stake in Almonty Industries during the third quarter valued at about $30,000. Banque Cantonale Vaudoise bought a new position in Almonty Industries during the third quarter worth about $54,000. Finally, Deutsche Bank AG bought a new position in Almonty Industries during the fourth quarter worth about $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.