Brokerages Set Almonty Industries Inc. (NASDAQ:ALM) PT at $13.38

Shares of Almonty Industries Inc. (NASDAQ:ALM) have received an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $13.3750.

Several equities research analysts have commented on the stock. Wall Street Zen raised shares of Almonty Industries from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. DA Davidson lifted their target price on Almonty Industries from $12.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Almonty Industries in a report on Monday, December 29th. Finally, B. Riley Securities raised their price target on Almonty Industries from $10.00 to $17.00 and gave the company a “buy” rating in a research note on Friday.

Almonty Industries Stock Up 8.4%

NASDAQ ALM opened at $13.84 on Friday. The firm has a 50 day simple moving average of $9.99. The company has a quick ratio of 2.25, a current ratio of 2.38 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $3.64 billion and a P/E ratio of -60.17. Almonty Industries has a 12-month low of $3.16 and a 12-month high of $14.91.

Institutional Investors Weigh In On Almonty Industries

A number of institutional investors and hedge funds have recently modified their holdings of ALM. FNY Investment Advisers LLC bought a new stake in Almonty Industries in the 3rd quarter valued at $30,000. Global Retirement Partners LLC bought a new stake in shares of Almonty Industries during the 4th quarter worth approximately $35,000. State of Wyoming bought a new stake in Almonty Industries during the fourth quarter worth $41,000. Banque Cantonale Vaudoise acquired a new stake in Almonty Industries in the third quarter valued at about $54,000. Finally, MCF Advisors LLC acquired a new stake in shares of Almonty Industries in the 3rd 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.