Brokerages Set Almonty Industries Inc. (NASDAQ:ALM) PT at $18.38

Almonty Industries Inc. (NASDAQ:ALM) has been given an average recommendation of “Moderate Buy” by the five research firms that are currently 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 12 month price target among brokerages that have covered the stock in the last year is $18.3750.

ALM has been the subject of a number of research reports. B. Riley Financial upped their price objective on Almonty Industries from $17.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Almonty Industries in a research note on Monday, December 29th. DA Davidson restated a “buy” rating and set a $25.00 target price on shares of Almonty Industries in a research report on Thursday, March 26th. Finally, Oppenheimer increased 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.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp increased its holdings in Almonty Industries by 13,294.7% in the 4th quarter. Van ECK Associates Corp now owns 11,239,482 shares of the company’s stock worth $99,013,000 after acquiring an additional 11,155,572 shares in the last quarter. Encompass Capital Advisors LLC purchased a new position in Almonty Industries during the fourth quarter valued at approximately $25,620,000. Next Century Growth Investors LLC purchased a new stake in shares of Almonty Industries in the fourth quarter worth $16,345,000. Telemark Asset Management LLC bought a new stake in shares of Almonty Industries during the 3rd quarter valued at $7,839,000. Finally, Alyeska Investment Group L.P. bought a new position in Almonty Industries in the 3rd quarter worth $7,839,000.

Almonty Industries Stock Performance

Shares of ALM stock opened at $16.63 on Friday. The company has a market capitalization of $4.66 billion and a price-to-earnings ratio of -28.67. 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 $22.55. The company’s 50-day moving average is $15.91 and its 200 day moving average is $10.55.

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.