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

Shares of Almonty Industries Inc. (NASDAQ:ALM) have received an average rating of “Buy” from the five ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $27.00.

Several analysts have recently commented on ALM shares. Weiss Ratings upgraded shares of Almonty Industries from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Wednesday, August 12th. Oppenheimer increased their price target on Almonty Industries from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. Finally, DA Davidson raised their price target on Almonty Industries from $25.00 to $33.00 and gave the company a “buy” rating in a report on Friday, July 10th.

Institutional Trading of Almonty Industries

Several institutional investors have recently made changes to their positions in ALM. Van ECK Associates Corp raised its stake in Almonty Industries by 13,294.7% during the 4th quarter. Van ECK Associates Corp now owns 11,239,482 shares of the company’s stock valued at $99,013,000 after purchasing an additional 11,155,572 shares during the period. Cooper Creek Partners Management LLC boosted its stake in Almonty Industries by 110.4% in the 1st quarter. Cooper Creek Partners Management LLC now owns 4,781,415 shares of the company’s stock worth $69,235,000 after purchasing an additional 2,508,478 shares during the period. Encompass Capital Advisors LLC boosted its stake in Almonty Industries by 47.9% in the 1st quarter. Encompass Capital Advisors LLC now owns 4,300,839 shares of the company’s stock worth $62,276,000 after purchasing an additional 1,392,806 shares during the period. Next Century Growth Investors LLC purchased a new stake in Almonty Industries during the 4th quarter valued at approximately $16,345,000. Finally, Alyeska Investment Group L.P. purchased a new stake in Almonty Industries during the 3rd quarter valued at approximately $7,839,000.

Almonty Industries Stock Performance

ALM opened at $17.80 on Tuesday. The firm has a market cap of $5.13 billion and a P/E ratio of 111.26. Almonty Industries has a 1-year low of $3.98 and a 1-year high of $24.41. The company has a 50 day simple moving average of $15.17 and a two-hundred day simple moving average of $17.23. The company has a debt-to-equity ratio of 1.37, a current ratio of 9.58 and a quick ratio of 9.51.

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.