Almonty Industries (NASDAQ:ALM) Given New $17.00 Price Target at B. Riley Securities

Almonty Industries (NASDAQ:ALM) had its target price boosted by B. Riley Securities from $10.00 to $17.00 in a research report released on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently issued reports on ALM. Wall Street Zen upgraded Almonty Industries from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Almonty Industries in a research report on Monday, December 29th. Finally, DA Davidson raised their target price on shares of Almonty Industries from $12.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $13.38.

Almonty Industries Stock Performance

Shares of ALM opened at $13.84 on Friday. The company has a fifty day moving average price of $9.99. The company has a market cap of $3.64 billion and a price-to-earnings ratio of -60.17. Almonty Industries has a 52 week low of $3.16 and a 52 week high of $14.91. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.38 and a quick ratio of 2.25.

Institutional Trading of Almonty Industries

A number of institutional investors and hedge funds have recently modified their holdings of ALM. Marshall Wace LLP boosted its stake in Almonty Industries by 7,507.2% during the 4th quarter. Marshall Wace LLP now owns 1,274,353 shares of the company’s stock worth $11,227,000 after acquiring an additional 1,257,601 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in Almonty Industries in the fourth quarter valued at approximately $8,274,000. DLD Asset Management LP acquired a new stake in Almonty Industries in the fourth quarter worth $396,000. Van ECK Associates Corp boosted its position in shares of Almonty Industries by 13,294.7% during the fourth quarter. Van ECK Associates Corp now owns 11,239,482 shares of the company’s stock worth $99,013,000 after purchasing an additional 11,155,572 shares in the last quarter. Finally, HRT Financial LP grew its holdings in shares of Almonty Industries by 53.7% in the 4th quarter. HRT Financial LP now owns 828,431 shares of the company’s stock valued at $7,298,000 after buying an additional 289,272 shares during the period.

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.