Almonty Industries (NASDAQ:ALM) Sets New 1-Year High – Time to Buy?

Almonty Industries Inc. (NASDAQ:ALM) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $17.31 and last traded at $16.70, with a volume of 3073381 shares traded. The stock had previously closed at $16.58.

Analyst Upgrades and Downgrades

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

Almonty Industries Stock Performance

The firm’s fifty day simple moving average is $11.22. The company has a current ratio of 2.38, a quick ratio of 2.25 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $4.65 billion and a PE ratio of -72.61.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Serenus Wealth Advisors LLC lifted its holdings in shares of Almonty Industries by 11.0% in the fourth quarter. Serenus Wealth Advisors LLC now owns 22,200 shares of the company’s stock worth $196,000 after acquiring an additional 2,200 shares during the last quarter. Global Retirement Partners LLC acquired a new position in Almonty Industries during the 4th quarter worth approximately $35,000. MCF Advisors LLC lifted its stake in Almonty Industries by 40.8% in the 4th quarter. MCF Advisors LLC now owns 14,084 shares of the company’s stock valued at $124,000 after purchasing an additional 4,084 shares during the last quarter. State of Wyoming bought a new position in Almonty Industries in the 4th quarter valued at approximately $41,000. Finally, FNY Investment Advisers LLC acquired a new stake in Almonty Industries in the third quarter valued at approximately $30,000.

Almonty Industries Company Profile

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.