Almonty Industries Inc. (NASDAQ:ALM) Receives $15.13 Average PT from Brokerages

Shares of Almonty Industries Inc. (NASDAQ:ALM) have earned a consensus recommendation of “Moderate Buy” from the five ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $15.1250.

Several equities analysts have recently commented on ALM shares. B. Riley Financial upped their target price on Almonty Industries from $10.00 to $17.00 and gave the company a “buy” rating in a report on Friday, February 13th. DA Davidson set a $25.00 price target on Almonty Industries in a report on Friday, March 6th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Almonty Industries in a research report on Monday, December 29th.

Almonty Industries Trading Down 5.5%

Shares of NASDAQ ALM opened at $21.06 on Tuesday. 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 stock’s 50 day moving average price is $13.61 and its two-hundred day moving average price is $9.07. Almonty Industries has a 52-week low of $3.16 and a 52-week high of $22.55. The stock has a market capitalization of $5.87 billion and a P/E ratio of -91.56.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ALM. Serenus Wealth Advisors LLC increased its position in shares of Almonty Industries by 11.0% during the 4th quarter. Serenus Wealth Advisors LLC now owns 22,200 shares of the company’s stock valued at $196,000 after purchasing an additional 2,200 shares during the period. Global Retirement Partners LLC bought a new stake in Almonty Industries in the fourth quarter worth about $35,000. MCF Advisors LLC lifted its holdings in Almonty Industries by 40.8% in the 4th quarter. MCF Advisors LLC now owns 14,084 shares of the company’s stock valued at $124,000 after acquiring an additional 4,084 shares during the last quarter. State of Wyoming acquired a new stake in Almonty Industries in the 4th quarter valued at about $41,000. Finally, FNY Investment Advisers LLC bought a new position in shares of Almonty Industries during the 3rd quarter valued at about $30,000.

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.