Almonty Industries (NASDAQ:ALM) Trading Up 7.3% – Still a Buy?

Almonty Industries Inc. (NASDAQ:ALM) was up 7.3% during mid-day trading on Monday . The company traded as high as $16.67 and last traded at $16.4810. Approximately 1,869,443 shares traded hands during trading, a decline of 65% from the average daily volume of 5,393,059 shares. The stock had previously closed at $15.36.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ALM shares. Oppenheimer lifted their price target on shares of Almonty Industries from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, March 20th. DA Davidson reissued a “buy” rating and set a $25.00 price target on shares of Almonty Industries in a research report on Thursday, March 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of Almonty Industries in a research report on Monday, December 29th. Finally, B. Riley Financial lifted their price target on shares of Almonty Industries from $17.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Almonty Industries presently has a consensus rating of “Moderate Buy” and an average target price of $18.38.

Almonty Industries Stock Performance

The company has a market capitalization of $4.48 billion and a PE ratio of -27.57. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.76 and a current ratio of 3.89. The business’s 50-day moving average is $16.00 and its 200-day moving average is $10.63.

Institutional Trading of Almonty Industries

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Rockefeller Capital Management L.P. increased its stake in Almonty Industries by 30.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,333 shares of the company’s stock valued at $38,000 after purchasing an additional 1,000 shares in the last quarter. Mackenzie Financial Corp increased its stake in Almonty Industries by 59.1% during the 4th quarter. Mackenzie Financial Corp now owns 111,224 shares of the company’s stock valued at $982,000 after purchasing an additional 41,331 shares in the last quarter. Quadrature Capital Ltd increased its stake in Almonty Industries by 35.0% during the 4th quarter. Quadrature Capital Ltd now owns 108,069 shares of the company’s stock valued at $952,000 after purchasing an additional 27,993 shares in the last quarter. Man Group plc bought a new stake in Almonty Industries during the 4th quarter valued at about $1,510,000. Finally, Manatuck Hill Partners LLC bought a new stake in Almonty Industries during the 4th quarter valued at about $1,762,000.

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.