Almonty Industries (NASDAQ:ALM) Trading 4.7% Higher – What’s Next?

Almonty Industries Inc. (NASDAQ:ALM) rose 4.7% on Friday . The company traded as high as $11.04 and last traded at $10.96. Approximately 1,069,236 shares traded hands during trading, a decline of 72% from the average daily volume of 3,839,766 shares. The stock had previously closed at $10.47.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ALM shares. Oppenheimer increased their price target on Almonty Industries from $7.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Almonty Industries in a research note on Monday, December 29th. Wall Street Zen raised shares of Almonty Industries from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, DA Davidson restated a “buy” rating and issued a $12.00 price target on shares of Almonty Industries in a report on Friday, December 19th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.17.

Almonty Industries Stock Performance

The company has a 50 day simple moving average of $8.07. The company has a market cap of $2.91 billion and a PE ratio of -48.22. The company has a debt-to-equity ratio of 16.37, a current ratio of 0.77 and a quick ratio of 0.63.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ALM. FNY Investment Advisers LLC bought a new position in shares of Almonty Industries during the 3rd quarter worth approximately $30,000. Banque Cantonale Vaudoise purchased a new position in Almonty Industries in the third quarter worth $54,000. MCF Advisors LLC acquired a new position in shares of Almonty Industries during the third quarter worth $60,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Almonty Industries during the 3rd quarter valued at $66,000. Finally, Scientech Research LLC acquired a new stake in shares of Almonty Industries in the 3rd quarter worth $75,000.

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.