Almonty Industries (NASDAQ:ALM) Trading 6.9% Higher – What’s Next?

Shares of Almonty Industries Inc. (NASDAQ:ALM) traded up 6.9% during mid-day trading on Monday . The company traded as high as $18.55 and last traded at $19.1130. 778,958 shares traded hands during trading, a decline of 85% from the average session volume of 5,326,591 shares. The stock had previously closed at $17.88.

Analysts Set New Price Targets

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

Almonty Industries Stock Up 5.7%

The business has a fifty day simple moving average of $16.72 and a 200 day simple moving average of $11.10. The firm has a market cap of $6.17 billion and a price-to-earnings ratio of -37.59. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.89 and a quick ratio of 3.76.

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 acquired a new position in shares of Almonty Industries during the third quarter valued at approximately $30,000. Global Retirement Partners LLC acquired a new position in shares of Almonty Industries during the fourth quarter valued at approximately $35,000. Rockefeller Capital Management L.P. raised its holdings in shares of Almonty Industries by 30.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,333 shares of the company’s stock valued at $38,000 after acquiring an additional 1,000 shares during the last quarter. State of Wyoming acquired a new position in shares of Almonty Industries during the fourth quarter valued at approximately $41,000. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Almonty Industries during the third quarter valued at 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.