Brokerages Set Almonty Industries Inc. (NASDAQ:ALM) Target Price at $21.88

Almonty Industries Inc. (NASDAQ:ALM) has received an average rating of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $21.8750.

Several brokerages have recently commented on ALM. Weiss Ratings restated a “sell (d-)” rating on shares of Almonty Industries in a research note on Thursday, June 18th. DA Davidson lifted their price objective on shares of Almonty Industries from $25.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Oppenheimer upped their price objective on shares of Almonty Industries from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, June 3rd. Finally, Texas Capital raised shares of Almonty Industries to a “strong-buy” rating in a research report on Thursday, April 16th.

Institutional Trading of Almonty Industries

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

Almonty Industries Stock Performance

Shares of NASDAQ ALM opened at $13.77 on Monday. The business has a 50 day simple moving average of $17.48 and a 200 day simple moving average of $16.29. Almonty Industries has a 52 week low of $3.16 and a 52 week high of $24.41. The stock has a market cap of $3.97 billion and a price-to-earnings ratio of -27.54. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.37 and a current ratio of 2.45.

Almonty Industries (NASDAQ:ALM) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The firm had revenue of $18.52 million for the quarter, compared to analyst estimates 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, research analysts predict that Almonty Industries will post 0.46 earnings per share 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.