Almonty Industries (NASDAQ:ALM) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Almonty Industries (NASDAQ:ALM) from a sell rating to a hold rating in a research report released on Saturday.

Several other research analysts also recently weighed in on the stock. DA Davidson restated a “buy” rating and issued a $11.00 target price on shares of Almonty Industries in a research note on Tuesday, October 28th. Oppenheimer boosted their price objective on shares of Almonty Industries from $7.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Almonty Industries in a research note on Wednesday, October 8th. Finally, Cantor Fitzgerald started coverage on Almonty Industries in a research report on Wednesday, August 13th. They set an “overweight” rating and a $6.50 target price on the stock. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.83.

Almonty Industries Stock Performance

Shares of ALM stock traded up $0.59 during trading hours on Friday, reaching $7.00. The company had a trading volume of 2,947,222 shares, compared to its average volume of 1,829,635. The stock has a market capitalization of $1.57 billion and a P/E ratio of -20.59. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 16.37. Almonty Industries has a twelve month low of $3.16 and a twelve month high of $10.68. The company’s fifty day simple moving average is $6.33.

Almonty Industries (NASDAQ:ALM) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). Almonty Industries had a negative return on equity of 104.72% and a negative net margin of 366.52%.The company had revenue of $5.20 million during the quarter, compared to analysts’ expectations of $5.30 million.

Hedge Funds Weigh In On Almonty Industries

Several large investors have recently modified their holdings of the stock. Serenus Wealth Advisors LLC bought a new stake in Almonty Industries in the third quarter valued at about $121,000. PNC Financial Services Group Inc. acquired a new position in Almonty Industries in the third quarter worth $157,000. Verde Servicos Internacionais S.A. bought a new stake in Almonty Industries during the third quarter valued at $422,000. Baader Bank Aktiengesellschaft bought a new stake in Almonty Industries during the third quarter valued at $580,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Almonty Industries during the third quarter worth $66,000.

Almonty Industries Company Profile

Almonty Industries Inc is a producer of tungsten concentrate. The Company is currently mining, processing and shipping tungsten concentrate from its Panasqueira Mine in Portugal. Almonty Industries Inc is based in TORONTO.