Almonty Industries (NASDAQ:ALM) Stock Price Up 4.7% – Time to Buy?

Almonty Industries Inc. (NASDAQ:ALM)’s share price was up 4.7% during trading on Friday . The stock traded as high as $11.04 and last traded at $10.96. Approximately 1,069,236 shares traded hands during trading, a decline of 72% from the average daily volume of 3,839,766 shares. The stock had previously closed at $10.47.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ALM. DA Davidson reiterated a “buy” rating and issued a $12.00 price target on shares of Almonty Industries in a research note on Friday, December 19th. Oppenheimer boosted their target price on shares of Almonty Industries from $7.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Almonty Industries in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded Almonty Industries from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Three equities 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.17.

Almonty Industries Stock Up 5.3%

The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 16.37. The stock’s fifty day moving average price is $7.98. The company has a market capitalization of $2.90 billion and a price-to-earnings ratio of -47.91.

Institutional Investors Weigh In On Almonty Industries

Several institutional investors and hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC purchased a new position in Almonty Industries during the third quarter valued at $30,000. Banque Cantonale Vaudoise bought a new stake in Almonty Industries during the third quarter worth approximately $54,000. MCF Advisors LLC purchased a new stake in Almonty Industries during the third quarter valued at approximately $60,000. Oppenheimer & Co. Inc. purchased a new position in shares of Almonty Industries in the 3rd quarter worth approximately $66,000. Finally, Scientech Research LLC bought a new position in shares of Almonty Industries during the 3rd quarter valued at approximately $75,000.

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.