Shares of Almonty Industries Inc. (NASDAQ:ALM – Get Free Report) have received an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $23.54.
ALM has been the subject of several recent research reports. Weiss Ratings raised shares of Almonty Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, September 25th. Stifel Nicolaus decreased their target price on shares of Almonty Industries from $25.00 to $21.00 and set a “buy” rating for the company in a research report on Tuesday. Jefferies Financial Group initiated 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. DA Davidson reaffirmed a “buy” rating and set a $33.00 price target on shares of Almonty Industries in a research report on Tuesday, September 15th. Finally, The Goldman Sachs Group initiated coverage on Almonty Industries in a research note on Thursday, September 24th. They set a “hold” rating and a $13.00 price objective for the company.
Read Our Latest Research Report on Almonty Industries
Almonty Industries Stock Up 0.8%
ALM stock opened at $8.90 on Wednesday. The firm’s fifty day simple moving average is $14.65 and its 200-day simple moving average is $16.44. The company has a market capitalization of $2.56 billion, a P/E ratio of 55.63 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 12 month low of $5.43 and a 12 month high of $24.41.
Hedge Funds Weigh In On Almonty Industries
Several institutional investors and hedge funds have recently modified their holdings of ALM. Encompass Capital Advisors LLC lifted its position in shares of Almonty Industries by 47.9% during the 1st quarter. Encompass Capital Advisors LLC now owns 4,300,839 shares of the company’s stock valued at $62,276,000 after buying an additional 1,392,806 shares in the last quarter. Bank of America Corp DE lifted its holdings in Almonty Industries by 309.6% in the 1st quarter. Bank of America Corp DE now owns 908,911 shares of the company’s stock valued at $13,161,000 after purchasing an additional 686,982 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Almonty Industries during the second quarter worth $7,118,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Almonty Industries during the second quarter worth $1,806,000. Finally, Cooper Creek Partners Management LLC grew its holdings in shares of Almonty Industries by 110.4% during the first quarter. Cooper Creek Partners Management LLC now owns 4,781,415 shares of the company’s stock worth $69,235,000 after buying an additional 2,508,478 shares in the last quarter.
About Almonty Industries
Almonty Industries Inc is a mining and development company focused primarily on tungsten, a critical industrial metal used in cutting tools, hard metals, defense applications, electronics and other specialized products. The company develops and operates tungsten projects and produces tungsten concentrates for sale to industrial customers and processors.
Almonty’s principal assets include the Panasqueira tungsten mine in Portugal, one of the company’s operating assets, and the Sangdong tungsten project in South Korea, which is being redeveloped as a major source of tungsten concentrate.
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