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

Almonty Industries Inc. (NASDAQ:ALM) has been given an average recommendation of “Moderate Buy” by the six research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $21.8750.

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

Almonty Industries Stock Performance

Almonty Industries stock opened at $16.61 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.37 and a current ratio of 2.45. Almonty Industries has a one year low of $3.16 and a one year high of $24.41. The stock’s 50 day moving average price is $18.10 and its 200 day moving average price is $16.12. The firm has a market capitalization of $4.74 billion and a PE ratio of -33.22.

Almonty Industries (NASDAQ:ALM) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. Almonty Industries had a negative net margin of 262.29% and a negative return on equity of 11.01%. The company had revenue of $18.52 million for the quarter, compared to analyst estimates of $15.44 million. As a group, sell-side analysts expect that Almonty Industries will post 0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Almonty Industries

Institutional investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. boosted its stake in shares of Almonty Industries by 30.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,333 shares of the company’s stock valued at $38,000 after buying an additional 1,000 shares during the last quarter. Leonteq Securities AG bought a new position in Almonty Industries during the 1st quarter valued at $29,000. Serenus Wealth Advisors LLC grew its holdings in Almonty Industries by 11.0% during the 4th quarter. Serenus Wealth Advisors LLC now owns 22,200 shares of the company’s stock worth $196,000 after acquiring an additional 2,200 shares in the last quarter. Global Retirement Partners LLC acquired a new position in Almonty Industries during the 4th quarter worth $35,000. Finally, MCF Advisors LLC increased its position in shares of Almonty Industries by 40.8% in the 4th quarter. MCF Advisors LLC now owns 14,084 shares of the company’s stock worth $124,000 after purchasing an additional 4,084 shares during the last quarter.

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.