Almonty Industries (NASDAQ:ALM) Trading 8.4% Higher – What’s Next?

Almonty Industries Inc. (NASDAQ:ALM)’s share price rose 8.4% during trading on Tuesday . The company traded as high as $16.86 and last traded at $16.77. Approximately 2,190,082 shares traded hands during trading, a decline of 52% from the average daily volume of 4,560,212 shares. The stock had previously closed at $15.47.

Analyst Ratings Changes

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

Almonty Industries Stock Up 9.2%

The business has a 50 day moving average price of $10.87. The stock has a market cap of $4.44 billion and a P/E ratio of -73.48. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.38 and a quick ratio of 2.25.

Institutional Inflows and Outflows

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

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.