Almonty Industries (NASDAQ:ALM) Receives “Buy” Rating from DA Davidson

DA Davidson restated their buy rating on shares of Almonty Industries (NASDAQ:ALM) in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a $25.00 price objective on the stock.

ALM has been the subject of several other research reports. B. Riley Financial raised their target price on shares of Almonty Industries from $17.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Almonty Industries in a report on Monday, December 29th. Finally, Oppenheimer increased their price objective on shares of Almonty Industries from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, March 20th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.38.

Almonty Industries Stock Down 10.2%

Shares of NASDAQ:ALM opened at $14.68 on Thursday. The company has a market cap of $4.12 billion and a price-to-earnings ratio of -25.31. Almonty Industries has a 12 month low of $3.16 and a 12 month high of $22.55. The company has a 50-day moving average price of $15.20 and a 200 day moving average price of $9.96. The company has a current ratio of 3.89, a quick ratio of 3.76 and a debt-to-equity ratio of 0.38.

Institutional Investors Weigh In On Almonty Industries

A number of large investors have recently bought and sold shares of ALM. Global Retirement Partners LLC purchased a new stake in shares of Almonty Industries in the 4th quarter valued at $35,000. Rockefeller Capital Management L.P. grew its position in shares of Almonty Industries by 30.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,333 shares of the company’s stock valued at $38,000 after acquiring an additional 1,000 shares during the period. State of Wyoming acquired a new stake in Almonty Industries in the fourth quarter valued at approximately $41,000. FNY Investment Advisers LLC acquired a new stake in Almonty Industries in the 3rd quarter valued at $30,000. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Almonty Industries in the third quarter valued at about $54,000.

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.