Almonty Industries (NASDAQ:ALM) Now Covered by Stifel Nicolaus

Stifel Nicolaus assumed coverage on shares of Almonty Industries (NASDAQ:ALM) in a note issued to investors on Friday, Benzinga reports. The brokerage set a “buy” rating and a $25.00 price target on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 101.61% from the company’s previous close.

A number of other research analysts have also recently issued reports on the company. Oppenheimer lifted their price objective on Almonty Industries from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. The Goldman Sachs Group started coverage on Almonty Industries in a research note on Thursday. They issued a “neutral” rating and a $13.00 target price on the stock. DA Davidson reaffirmed a “buy” rating and issued a $33.00 price target on shares of Almonty Industries in a research report on Tuesday, September 15th. Jefferies Financial Group started coverage on shares of Almonty Industries in a research report on Wednesday, September 2nd. They set a “buy” rating and a $26.25 price objective on the stock. Finally, Weiss Ratings upgraded shares of Almonty Industries from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Almonty Industries currently has a consensus rating of “Moderate Buy” and an average target price of $24.21.

Almonty Industries Price Performance

ALM stock opened at $12.40 on Friday. The firm has a 50 day moving average price of $15.17 and a 200-day moving average price of $17.15. Almonty Industries has a 52-week low of $5.25 and a 52-week high of $24.41. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of 77.50 and a beta of 3.75. The company has a debt-to-equity ratio of 1.37, a quick ratio of 9.51 and a current ratio of 9.58.

Hedge Funds Weigh In On Almonty Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALM. Encompass Capital Advisors LLC bought a new stake in Almonty Industries in the fourth quarter worth about $25,620,000. Cooper Creek Partners Management LLC raised its holdings in shares of Almonty Industries by 110.4% in the first quarter. Cooper Creek Partners Management LLC now owns 4,781,415 shares of the company’s stock worth $69,235,000 after buying an additional 2,508,478 shares during the period. Next Century Growth Investors LLC purchased a new stake in shares of Almonty Industries in the fourth quarter worth approximately $16,345,000. Walleye Capital LLC bought a new stake in shares of Almonty Industries during the 1st quarter worth approximately $12,953,000. Finally, Royce & Associates LP purchased a new stake in Almonty Industries in the fourth quarter worth $7,356,000.

Almonty Industries Company Profile

Almonty Industries Inc is a mining and development company focused primarily on tungsten, a specialty metal used in industrial, technology, energy, automotive, aerospace and defense applications. The company’s activities include the exploration, development, operation and redevelopment of tungsten-mining projects, as well as the production of tungsten concentrates.

Almonty’s principal assets include the Sangdong Tungsten Project in South Korea, one of the company’s key development projects, and the Panasqueira tungsten mine in Portugal, a producing operation with a long operating history.