Almonty Industries (NASDAQ:ALM) Hits New 12-Month High – Should You Buy?

Almonty Industries Inc. (NASDAQ:ALM)’s stock price hit a new 52-week high on Friday . The company traded as high as $15.01 and last traded at $14.91, with a volume of 273030 shares traded. The stock had previously closed at $14.58.

Analysts Set New Price Targets

A number of research firms recently issued reports on ALM. DA Davidson raised their price target on Almonty Industries from $12.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Wall Street Zen upgraded Almonty Industries from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. B. Riley Financial increased their price target on Almonty Industries from $10.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Almonty Industries in a research note on Monday, December 29th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.38.

Almonty Industries Price Performance

The company has a market cap of $3.80 billion and a PE ratio of -62.87. The company’s 50 day moving average price is $10.55. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.25 and a current ratio of 2.38.

Hedge Funds Weigh In On Almonty Industries

Several hedge funds have recently bought and sold shares of ALM. Global Retirement Partners LLC purchased a new stake in Almonty Industries during the fourth quarter worth $35,000. State of Wyoming acquired a new stake in Almonty Industries in the 4th quarter valued at about $41,000. FNY Investment Advisers LLC purchased a new position in Almonty Industries during the 3rd quarter valued at about $30,000. Banque Cantonale Vaudoise acquired a new position in Almonty Industries during the third quarter worth about $54,000. Finally, Deutsche Bank AG acquired a new position in Almonty Industries during the fourth quarter worth about $79,000.

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.