Almonty Industries (NASDAQ:ALM) Upgraded at Texas Capital

Texas Capital upgraded shares of Almonty Industries (NASDAQ:ALM) to a strong-buy rating in a research report released on Thursday morning,Zacks.com reports.

Several other equities research analysts have also issued reports on ALM. DA Davidson reissued a “buy” rating and set a $25.00 target price on shares of Almonty Industries in a research note on Thursday, March 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of Almonty Industries in a research note on Monday, December 29th. Oppenheimer upped their price target on shares of Almonty Industries from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, March 20th. Finally, B. Riley Financial upped their price target on shares of Almonty Industries from $17.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.38.

Almonty Industries Price Performance

NASDAQ:ALM opened at $23.42 on Thursday. The firm’s fifty day moving average is $17.26 and its two-hundred day moving average is $11.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.76 and a current ratio of 3.89. Almonty Industries has a one year low of $3.16 and a one year high of $24.41. The firm has a market cap of $6.62 billion and a price-to-earnings ratio of -40.38.

Hedge Funds Weigh In On Almonty Industries

A number of hedge funds have recently made changes to their positions in ALM. FNY Investment Advisers LLC purchased a new position in shares of Almonty Industries during the 3rd quarter worth approximately $30,000. Global Retirement Partners LLC purchased a new position in shares of Almonty Industries during the 4th quarter worth approximately $35,000. Rockefeller Capital Management L.P. boosted 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 worth $38,000 after purchasing an additional 1,000 shares during the period. State of Wyoming purchased a new position in shares of Almonty Industries during the 4th quarter worth approximately $41,000. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Almonty Industries during the 3rd quarter worth approximately $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.