Almonty Industries (NASDAQ:ALM) Stock Price Target Lowered at B. Riley Financial

Almonty Industries (NASDAQ:ALM) had its price target cut by stock analysts at B. Riley Financial from $25.00 to $20.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley Financial‘s price target indicates a potential upside of 112.04% from the company’s previous close.

A number of other analysts have also commented on ALM. DA Davidson reissued a “buy” rating and issued a $33.00 price objective on shares of Almonty Industries in a research report on Tuesday, September 15th. Stifel Nicolaus decreased their price objective on Almonty Industries from $25.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, October 20th. Jefferies Financial Group started coverage on Almonty Industries in a report on Wednesday, September 2nd. They issued a “buy” rating and a $26.25 price objective for the company. The Goldman Sachs Group initiated coverage on shares of Almonty Industries in a report on Thursday, September 24th. They set a “hold” rating and a $13.00 price target for the company. Finally, Weiss Ratings upgraded Almonty Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.04.

Almonty Industries Price Performance

Shares of NASDAQ:ALM traded up $0.23 during trading on Tuesday, reaching $9.43. The stock had a trading volume of 667,396 shares, compared to its average volume of 5,877,676. Almonty Industries has a 52 week low of $5.43 and a 52 week high of $24.41. The stock has a market capitalization of $2.72 billion, a PE ratio of 58.93 and a beta of 4.15. The company has a debt-to-equity ratio of 1.37, a current ratio of 9.58 and a quick ratio of 9.51. The business’s 50-day moving average price is $14.28 and its 200 day moving average price is $15.72.

Institutional Trading of Almonty Industries

Several hedge funds have recently bought and sold shares of the business. Rockefeller Capital Management L.P. boosted its stake in shares of 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 acquiring an additional 1,000 shares during the period. Leonteq Securities AG purchased a new position in Almonty Industries in the first quarter worth about $29,000. Pin Oak Investment Advisors Inc. bought a new position in shares of Almonty Industries during the 2nd quarter valued at approximately $53,000. Nykredit A S bought a new stake in shares of Almonty Industries in the 2nd quarter worth about $58,000. Finally, Royal Bank of Canada boosted its position in shares of Almonty Industries by 6.1% during the first quarter. Royal Bank of Canada now owns 74,732 shares of the company’s stock valued at $1,082,000 after buying an additional 4,280 shares during the period.

About Almonty Industries

Almonty Industries Inc is a mining and development company focused primarily on tungsten, a critical industrial metal used in cutting tools, hard metals, defense applications, electronics and other specialized products. The company develops and operates tungsten projects and produces tungsten concentrates for sale to industrial customers and processors.

Almonty’s principal assets include the Panasqueira tungsten mine in Portugal, one of the company’s operating assets, and the Sangdong tungsten project in South Korea, which is being redeveloped as a major source of tungsten concentrate.