Almonty Industries (NASDAQ:ALM) Stock Rating Upgraded by Wall Street Zen

Almonty Industries (NASDAQ:ALM) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Several other research firms have also recently commented on ALM. Cantor Fitzgerald initiated coverage on shares of Almonty Industries in a research report on Wednesday, August 13th. They issued an “overweight” rating and a $6.50 target price for the company. DA Davidson restated a “buy” rating and issued a $11.00 price objective on shares of Almonty Industries in a report on Tuesday, October 28th. Oppenheimer upped their target price on Almonty Industries from $7.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Almonty Industries in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.83.

Almonty Industries Stock Performance

Shares of ALM stock opened at $7.00 on Friday. The company has a market cap of $1.57 billion and a price-to-earnings ratio of -20.59. Almonty Industries has a fifty-two week low of $3.16 and a fifty-two week high of $10.68. The stock has a 50 day simple moving average of $6.33. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 16.37.

Almonty Industries (NASDAQ:ALM) last announced its earnings results on Thursday, August 14th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $5.30 million.

Institutional Investors Weigh In On Almonty Industries

A number of institutional investors have recently modified their holdings of ALM. Old West Investment Management LLC purchased a new position in shares of Almonty Industries in the 3rd quarter worth about $2,148,000. Huntleigh Advisors Inc. purchased a new position in Almonty Industries in the third quarter worth about $661,000. Baader Bank Aktiengesellschaft bought a new position in shares of Almonty Industries in the third quarter worth approximately $580,000. Verde Servicos Internacionais S.A. purchased a new stake in shares of Almonty Industries during the third quarter valued at approximately $422,000. Finally, BLB&B Advisors LLC bought a new stake in shares of Almonty Industries during the third quarter valued at approximately $298,000.

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.