Almonty Industries (NASDAQ:ALM) Hits New 1-Year High – Here’s Why

Shares of Almonty Industries Inc. (NASDAQ:ALM) hit a new 52-week high during trading on Friday . The company traded as high as $15.01 and last traded at $14.91, with a volume of 273030 shares trading hands. The stock had previously closed at $14.58.

Analyst Upgrades and Downgrades

ALM has been the subject of a number of analyst reports. DA Davidson lifted their price objective on shares of Almonty Industries from $12.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. B. Riley Financial lifted 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, February 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Almonty Industries in a report on Monday, December 29th. Finally, Wall Street Zen upgraded Almonty Industries from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Four 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 target price of $13.38.

Almonty Industries Price Performance

The company has a debt-to-equity ratio of 1.02, a current ratio of 2.38 and a quick ratio of 2.25. The firm has a market capitalization of $3.87 billion and a P/E ratio of -64.08. The firm’s fifty day moving average is $10.71.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Huntleigh Advisors Inc. purchased a new stake in Almonty Industries during the third quarter valued at about $661,000. Old West Investment Management LLC bought a new stake in shares of Almonty Industries in the third quarter valued at approximately $2,148,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of Almonty Industries during the 3rd quarter valued at approximately $580,000. BLB&B Advisors LLC bought a new position in Almonty Industries in the 3rd quarter worth approximately $298,000. Finally, Verde Servicos Internacionais S.A. bought a new position in Almonty Industries in the 3rd quarter worth approximately $422,000.

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.