Almonty Industries (NASDAQ:ALM) Stock Price Up 13.3% – Still a Buy?

Almonty Industries Inc. (NASDAQ:ALM)’s share price rose 13.3% during trading on Monday . The stock traded as high as $12.23 and last traded at $12.5340. Approximately 1,825,528 shares traded hands during trading, a decline of 67% from the average daily volume of 5,491,618 shares. The stock had previously closed at $11.06.

Wall Street Analyst Weigh In

ALM has been the subject of a number of recent analyst reports. Oppenheimer raised their price target on shares of Almonty Industries from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Almonty Industries in a report on Thursday, June 18th. DA Davidson increased their price objective on shares of Almonty Industries from $25.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Finally, Texas Capital raised shares of Almonty Industries to a “strong-buy” rating in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.88.

Almonty Industries Stock Performance

The company has a fifty day moving average of $16.32 and a two-hundred day moving average of $16.57. The stock has a market capitalization of $3.65 billion and a P/E ratio of -25.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.45 and a quick ratio of 2.37.

Almonty Industries (NASDAQ:ALM) last released its earnings results on Monday, May 11th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The company had revenue of $18.52 million for the quarter, compared to the consensus estimate of $15.44 million. Almonty Industries had a negative return on equity of 11.01% and a negative net margin of 262.29%. On average, equities analysts anticipate that Almonty Industries Inc. will post 0.46 EPS for the current year.

Hedge Funds Weigh In On Almonty Industries

Several large investors have recently added to or reduced their stakes in the company. Leonteq Securities AG acquired a new position in Almonty Industries in the first quarter worth $29,000. Global Retirement Partners LLC acquired a new stake in shares of Almonty Industries during the fourth quarter worth $35,000. Rockefeller Capital Management L.P. raised its holdings in shares of Almonty Industries by 30.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,333 shares of the company’s stock worth $38,000 after purchasing an additional 1,000 shares during the period. State of Wyoming bought a new position in shares of Almonty Industries in the 4th quarter worth about $41,000. Finally, Banque Cantonale Vaudoise bought a new position in Almonty Industries in the third quarter worth about $54,000.

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.