Almonty Industries (NASDAQ:ALM) Stock Price Up 7.3% – Still a Buy?

Almonty Industries Inc. (NASDAQ:ALM) traded up 7.3% during trading on Monday . The company traded as high as $16.67 and last traded at $16.4810. 1,869,443 shares were traded during trading, a decline of 65% from the average session volume of 5,393,059 shares. The stock had previously closed at $15.36.

Wall Street Analyst Weigh In

ALM has been the topic of several recent analyst reports. Oppenheimer raised their price objective on shares of Almonty Industries from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, March 20th. B. Riley Financial raised their price target on Almonty Industries from $17.00 to $23.00 and gave the company a “buy” rating in a report on Friday, March 20th. DA Davidson restated a “buy” rating and issued a $25.00 price objective on shares of Almonty Industries in a research report on Thursday, March 26th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Almonty Industries in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.38.

Almonty Industries Stock Up 9.3%

The company has a quick ratio of 3.76, a current ratio of 3.89 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $4.71 billion and a PE ratio of -29.00. The company’s 50 day moving average is $15.80 and its two-hundred day moving average is $10.47.

Institutional Investors Weigh In On Almonty Industries

Hedge funds have recently made changes to their positions in the company. FNY Investment Advisers LLC bought a new stake in Almonty Industries in the 3rd quarter worth approximately $30,000. Global Retirement Partners LLC bought a new stake in Almonty Industries in the fourth quarter worth $35,000. Rockefeller Capital Management L.P. increased its position in Almonty Industries by 30.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,333 shares of the company’s stock worth $38,000 after purchasing an additional 1,000 shares during the last quarter. State of Wyoming purchased a new stake in Almonty Industries during the fourth quarter valued at $41,000. Finally, Banque Cantonale Vaudoise bought a new position in Almonty Industries during the third quarter valued at $54,000.

About Almonty Industries

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.