Almonty Industries Inc. (NASDAQ:ALM) Receives Consensus Rating of “Moderate Buy” from Analysts

Almonty Industries Inc. (NASDAQ:ALM) has earned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $21.8750.

ALM has been the topic of several recent research reports. B. Riley Financial raised their price objective on Almonty Industries from $17.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. DA Davidson boosted their price objective on Almonty Industries from $25.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Oppenheimer boosted their price objective on Almonty Industries from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. Texas Capital raised shares of Almonty Industries to a “strong-buy” rating in a report on Thursday, April 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Almonty Industries in a research note on Thursday, June 18th.

Institutional Trading of Almonty Industries

Institutional investors and hedge funds have recently modified their holdings of the company. Benin Management CORP purchased a new position in Almonty Industries in the 4th quarter worth approximately $1,068,000. Apis Capital Advisors LLC purchased a new stake in Almonty Industries during the 3rd quarter valued at approximately $2,040,000. Marathon Capital Management grew its holdings in Almonty Industries by 137.2% during the 4th quarter. Marathon Capital Management now owns 593,515 shares of the company’s stock valued at $5,229,000 after buying an additional 343,280 shares in the last quarter. ArrowMark Colorado Holdings LLC bought a new stake in shares of Almonty Industries during the third quarter valued at approximately $7,807,000. Finally, Intact Investment Management Inc. bought a new stake in shares of Almonty Industries during the fourth quarter valued at approximately $732,000.

Almonty Industries Trading Up 4.5%

NASDAQ:ALM opened at $13.77 on Monday. Almonty Industries has a one year low of $3.16 and a one year high of $24.41. The business has a fifty day moving average price of $17.48 and a 200-day moving average price of $16.25. The firm has a market capitalization of $3.97 billion and a price-to-earnings ratio of -27.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.45 and a quick ratio of 2.37.

Almonty Industries (NASDAQ:ALM) last released its earnings results on Monday, May 11th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. Almonty Industries had a negative return on equity of 11.01% and a negative net margin of 262.29%.The company had revenue of $18.52 million for the quarter, compared to the consensus estimate of $15.44 million. Sell-side analysts forecast that Almonty Industries will post 0.46 EPS for the current year.

About Almonty Industries

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.