Almonty Industries (NASDAQ:ALM) Trading Up 9% – Should You Buy?

Almonty Industries Inc. (NASDAQ:ALM) was up 9% during trading on Monday . The company traded as high as $7.45 and last traded at $7.37. Approximately 750,983 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 1,890,374 shares. The stock had previously closed at $6.76.

Analyst Ratings Changes

ALM has been the subject of a number of research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Almonty Industries in a report on Monday, December 1st. Wall Street Zen upgraded Almonty Industries from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. DA Davidson lifted their target price on Almonty Industries from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Finally, Oppenheimer boosted their target price on Almonty Industries from $7.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.17.

Almonty Industries Price Performance

The firm has a market cap of $1.84 billion and a P/E ratio of -31.61. The firm’s fifty day simple moving average is $7.10. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 16.37.

Institutional Investors Weigh In On Almonty Industries

A number of institutional investors have recently bought and sold shares of the business. FNY Investment Advisers LLC acquired a new position in shares of Almonty Industries in the 3rd quarter valued at about $30,000. Vivaldi Capital Management LP purchased a new position in Almonty Industries during the third quarter valued at approximately $503,000. Worth Venture Partners LLC acquired a new position in Almonty Industries in the 3rd quarter valued at approximately $362,000. Alyeska Investment Group L.P. acquired a new position in Almonty Industries in the 3rd quarter valued at approximately $7,839,000. Finally, Wexford Capital LP purchased a new stake in Almonty Industries in the 3rd quarter worth approximately $1,099,000.

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.