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

Almonty Industries Inc. (NASDAQ:ALM) has earned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $24.21.

Several equities research analysts recently weighed in on ALM shares. Stifel Nicolaus initiated coverage on Almonty Industries in a report on Friday, September 25th. They set a “buy” rating and a $25.00 target price for the company. DA Davidson reaffirmed a “buy” rating and issued a $33.00 price target on shares of Almonty Industries in a research note on Tuesday, September 15th. Weiss Ratings upgraded shares of Almonty Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, September 25th. The Goldman Sachs Group started coverage on shares of Almonty Industries in a research report on Thursday, September 24th. They set a “hold” rating and a $13.00 price target for the company. Finally, Jefferies Financial Group began coverage on shares of Almonty Industries in a report on Wednesday, September 2nd. They issued a “buy” rating and a $26.25 price target on the stock.

Almonty Industries Stock Up 1.7%

Shares of NASDAQ ALM opened at $13.40 on Friday. The stock has a market capitalization of $3.86 billion, a P/E ratio of 83.76 and a beta of 4.15. 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 has a one year low of $5.43 and a one year high of $24.41. The firm’s 50 day simple moving average is $15.07 and its two-hundred day simple moving average is $16.86.

Hedge Funds Weigh In On Almonty Industries

Hedge funds have recently made changes to their positions in the business. Nykredit A S purchased a new stake in shares of Almonty Industries in the 2nd quarter worth about $58,000. Pin Oak Investment Advisors Inc. purchased a new position in shares of Almonty Industries during the second quarter valued at about $53,000. Public Employees Retirement System of Ohio bought a new position in Almonty Industries in the second quarter worth about $1,806,000. Bank of New York Mellon Corp bought a new position in Almonty Industries in the second quarter worth about $7,118,000. Finally, Bank of America Corp DE lifted its holdings in Almonty Industries by 309.6% in the first quarter. Bank of America Corp DE now owns 908,911 shares of the company’s stock worth $13,161,000 after buying an additional 686,982 shares during the period.

About Almonty Industries

Almonty Industries Inc is a mining and development company focused primarily on tungsten, a critical mineral used in industrial, manufacturing, defense and technology applications. The company’s activities include the exploration, development and operation of tungsten properties, as well as the processing and sale of tungsten concentrates.

Almonty’s portfolio includes the Panasqueira tungsten mine in Portugal, one of its producing assets, and the Sangdong tungsten project in South Korea, which the company is developing as a major source of tungsten supply.