Almonty Industries Inc. (NASDAQ:ALM) Given Average Recommendation of “Moderate Buy” by Analysts

Almonty Industries Inc. (NASDAQ:ALM) has been assigned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $18.3750.

A number of research analysts have recently issued reports on ALM shares. B. Riley Financial lifted their price objective on shares of Almonty Industries from $17.00 to $23.00 and gave the company a “buy” rating in a report on Friday, March 20th. Texas Capital raised shares of Almonty Industries to a “strong-buy” rating in a research report on Thursday, April 16th. Oppenheimer raised their price target on shares of Almonty Industries from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, March 20th. Finally, DA Davidson reissued a “buy” rating and set a $25.00 price target on shares of Almonty Industries in a research report on Thursday, March 26th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Leonteq Securities AG bought a new position in shares of Almonty Industries during the first quarter valued at about $29,000. Global Retirement Partners LLC bought a new position in shares of Almonty Industries during the fourth quarter valued at about $35,000. Rockefeller Capital Management L.P. lifted its position in shares of Almonty Industries by 30.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,333 shares of the company’s stock valued at $38,000 after purchasing an additional 1,000 shares in the last quarter. State of Wyoming bought a new position in shares of Almonty Industries during the fourth quarter valued at about $41,000. Finally, FNY Investment Advisers LLC bought a new position in shares of Almonty Industries during the third quarter valued at about $30,000.

Almonty Industries Stock Down 0.7%

Shares of NASDAQ ALM opened at $18.66 on Friday. The stock has a market capitalization of $5.29 billion and a P/E ratio of -37.32. The company has a 50-day moving average price of $18.83 and a 200-day moving average price of $13.43. Almonty Industries has a 1 year low of $3.16 and a 1 year high of $24.41. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.45 and a quick ratio of 2.37.

Almonty Industries (NASDAQ:ALM) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The firm had revenue of $18.52 million during the quarter, compared to analysts’ expectations of $15.44 million. Almonty Industries had a negative net margin of 262.29% and a negative return on equity of 11.01%. On average, equities research analysts forecast that Almonty Industries will post 0.6 EPS for the current fiscal year.

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.