Almonty Industries (NASDAQ:ALM) Stock Price Up 6.1% on Analyst Upgrade

Shares of Almonty Industries Inc. (NASDAQ:ALM) traded up 6.1% during trading on Friday after DA Davidson raised their price target on the stock from $25.00 to $33.00. DA Davidson currently has a buy rating on the stock. Almonty Industries traded as high as $16.02 and last traded at $15.6010. 786,304 shares were traded during trading, a decline of 85% from the average daily volume of 5,356,720 shares. The stock had previously closed at $14.70.

A number of other equities research analysts also recently commented on the company. Texas Capital upgraded Almonty Industries to a “strong-buy” rating in a report on Thursday, April 16th. B. Riley Financial upped their target price on shares of Almonty Industries from $17.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Oppenheimer increased their target price on shares of Almonty Industries from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, June 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Almonty Industries in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.88.

Institutional Trading of Almonty Industries

Several hedge funds have recently bought and sold shares of ALM. Leonteq Securities AG bought a new position in Almonty Industries in the first quarter valued at approximately $29,000. Global Retirement Partners LLC acquired a new stake in shares of Almonty Industries during the fourth quarter worth $35,000. Rockefeller Capital Management L.P. lifted its position in Almonty Industries by 30.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,333 shares of the company’s stock valued at $38,000 after acquiring an additional 1,000 shares in the last quarter. State of Wyoming bought a new stake in Almonty Industries in the 4th quarter valued at $41,000. Finally, FNY Investment Advisers LLC acquired a new position in Almonty Industries in the 3rd quarter worth $30,000.

Almonty Industries Stock Performance

The stock’s 50 day moving average is $18.16 and its two-hundred day moving average is $16.06. The stock has a market capitalization of $4.48 billion and a price-to-earnings ratio of -31.52. The company has a current ratio of 2.45, a quick ratio of 2.37 and a debt-to-equity ratio of 0.30.

Almonty Industries (NASDAQ:ALM) last released its quarterly earnings results on Monday, May 11th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. The firm had revenue of $18.52 million for the quarter, compared to the consensus estimate of $15.44 million. Almonty Industries had a negative return on equity of 11.01% and a negative net margin of 262.29%. Analysts expect that Almonty Industries Inc. will post 0.46 earnings per share for the current fiscal year.

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.