Almonty Industries (NASDAQ:ALM) Price Target Raised to $18.00

Almonty Industries (NASDAQ:ALM) had its target price upped by analysts at DA Davidson from $12.00 to $18.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson’s price target would indicate a potential upside of 34.73% from the stock’s previous close.

ALM has been the topic of several other research reports. Wall Street Zen upgraded Almonty Industries from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Almonty Industries in a research note on Monday, December 29th. Finally, Oppenheimer boosted their price objective on shares of Almonty Industries from $7.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, October 15th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $12.17.

Almonty Industries Stock Performance

ALM stock traded down $0.03 during midday trading on Wednesday, hitting $13.36. 5,970,483 shares of the company’s stock were exchanged, compared to its average volume of 5,128,971. The company has a debt-to-equity ratio of 16.37, a quick ratio of 0.63 and a current ratio of 0.77. The stock’s fifty day moving average is $8.87. Almonty Industries has a one year low of $3.16 and a one year high of $13.82. The company has a market cap of $3.51 billion and a P/E ratio of -58.08.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Huntleigh Advisors Inc. bought a new position in Almonty Industries in the 3rd quarter valued at $661,000. BLB&B Advisors LLC purchased a new stake in shares of Almonty Industries during the third quarter valued at approximately $298,000. General American Investors Co. Inc. purchased a new position in shares of Almonty Industries in the third quarter valued at about $246,000. Old West Investment Management LLC bought a new position in Almonty Industries during the 3rd quarter valued at approximately $2,148,000. Finally, MCF Advisors LLC purchased a new stake in Almonty Industries in the third quarter worth $60,000.

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.