Almonty Industries (NASDAQ:ALM) Given “Buy” Rating at DA Davidson

DA Davidson reaffirmed their buy rating on shares of Almonty Industries (NASDAQ:ALM) in a research report sent to investors on Friday,Benzinga reports. They currently have a $12.00 target price on the stock.

Several other brokerages have also commented on ALM. Oppenheimer increased their price objective on shares of Almonty Industries from $7.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Almonty Industries in a research report on Monday. Finally, Wall Street Zen raised Almonty Industries from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Almonty Industries has an average rating of “Moderate Buy” and a consensus target price of $10.17.

Almonty Industries Stock Performance

Almonty Industries stock opened at $8.46 on Friday. 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 capitalization of $2.15 billion and a PE ratio of -36.78. The company has a 50-day simple moving average of $7.16. Almonty Industries has a one year low of $3.16 and a one year high of $10.68.

Institutional Investors Weigh In On Almonty Industries

Several hedge funds have recently added to or reduced their stakes in the business. Huntleigh Advisors Inc. purchased a new position in shares of Almonty Industries during the 3rd quarter valued at about $661,000. BLB&B Advisors LLC purchased a new stake in shares of Almonty Industries in the third quarter worth about $298,000. General American Investors Co. Inc. acquired a new stake in Almonty Industries during the third quarter worth about $246,000. Old West Investment Management LLC purchased a new position in Almonty Industries during the third quarter valued at approximately $2,148,000. Finally, MCF Advisors LLC purchased a new position in Almonty Industries during the third quarter valued at approximately $60,000.

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.