Almonty Industries (NASDAQ:ALM) Price Target Raised to $11.00

Almonty Industries (NASDAQ:ALM) had its price target boosted by DA Davidson from $7.00 to $11.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s target price points to a potential upside of 64.42% from the company’s current price.

ALM has been the subject of a number of other research reports. Cantor Fitzgerald began coverage on shares of Almonty Industries in a research report on Wednesday, August 13th. They set an “overweight” rating and a $6.50 price objective for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Almonty Industries in a research report on Saturday, September 27th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $8.75.

Almonty Industries Price Performance

NASDAQ ALM opened at $6.69 on Tuesday. The stock has a market cap of $1.45 billion and a P/E ratio of -19.68. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 16.37. Almonty Industries has a twelve month low of $3.16 and a twelve month high of $7.18.

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

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.