Almonty Industries (NASDAQ:ALM) Stock Price Expected to Rise, Oppenheimer Analyst Says

Almonty Industries (NASDAQ:ALMGet Free Report) had its price objective lifted by investment analysts at Oppenheimer from $7.00 to $12.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s target price points to a potential upside of 41.01% from the company’s previous close.

Several other equities analysts have also weighed in on ALM. DA Davidson lifted their target price on shares of Almonty Industries from $7.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Almonty Industries in a report on Wednesday, October 8th. Finally, Cantor Fitzgerald assumed coverage on shares of Almonty Industries in a report on Wednesday, August 13th. They set an “overweight” rating and a $6.50 target price for the company. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Almonty Industries has an average rating of “Moderate Buy” and an average target price of $9.83.

View Our Latest Analysis on ALM

Almonty Industries Price Performance

NASDAQ:ALM opened at $8.51 on Wednesday. The company has a debt-to-equity ratio of 16.37, a quick ratio of 0.63 and a current ratio of 0.77. The stock has a market cap of $1.85 billion and a price-to-earnings ratio of -25.03. The company’s 50 day moving average price is $5.53. Almonty Industries has a 1-year low of $3.16 and a 1-year high of $10.68.

Almonty Industries (NASDAQ:ALMGet Free Report) last posted its earnings results on Thursday, August 14th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The firm had revenue of $5.20 million for the quarter, compared to analysts’ expectations of $5.30 million. Almonty Industries had a negative net margin of 366.52% and a negative return on equity of 104.72%.

About Almonty Industries

(Get Free Report)

Almonty Industries Inc is a producer of tungsten concentrate. The Company is currently mining, processing and shipping tungsten concentrate from its Panasqueira Mine in Portugal. Almonty Industries Inc is based in TORONTO.

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