DA Davidson Issues Positive Forecast for Almonty Industries (NASDAQ:ALM) Stock Price

Almonty Industries (NASDAQ:ALM) had its price objective raised by analysts at DA Davidson from $11.00 to $12.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. DA Davidson’s price target indicates a potential upside of 73.16% from the stock’s previous close.

Several other research firms also recently weighed in on ALM. Oppenheimer upped their price objective on shares of Almonty Industries from $7.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Wall Street Zen raised Almonty Industries from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Cantor Fitzgerald began coverage on shares of Almonty Industries in a report on Wednesday, August 13th. They set an “overweight” rating and a $6.50 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Almonty Industries in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Almonty Industries has a consensus rating of “Moderate Buy” and an average price target of $10.17.

Almonty Industries Price Performance

NASDAQ ALM traded down $0.02 on Thursday, reaching $6.93. The stock had a trading volume of 603,911 shares, compared to its average volume of 1,794,435. Almonty Industries has a 1-year low of $3.16 and a 1-year high of $10.68. The stock has a market capitalization of $1.56 billion and a P/E ratio of -20.38. The stock’s fifty day moving average is $6.49. The company has a debt-to-equity ratio of 16.37, a quick ratio of 0.63 and a current ratio of 0.77.

Almonty Industries (NASDAQ:ALM) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The company had revenue of $5.20 million during the quarter, compared to analyst estimates of $5.30 million. Almonty Industries had a negative net margin of 366.52% and a negative return on equity of 104.72%.

Institutional Trading of Almonty Industries

Large investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp bought a new stake in shares of Almonty Industries in the 3rd quarter worth about $506,000. Banque Cantonale Vaudoise purchased a new stake in Almonty Industries in the 3rd quarter worth about $54,000. First Eagle Investment Management LLC bought a new stake in Almonty Industries in the third quarter worth about $543,000. Fifth Lane Capital LP purchased a new position in shares of Almonty Industries during the third quarter valued at approximately $75,000. Finally, TD Asset Management Inc purchased a new position in shares of Almonty Industries during the third quarter valued at approximately $913,000.

About Almonty Industries

Almonty Industries Inc is a producer of tungsten concentrate. The Company is currently mining, processing and shipping tungsten concentrate from its Panasqueira Mine in Portugal. Almonty Industries Inc is based in TORONTO.