Almonty Industries (NASDAQ:ALM) Now Covered by Analysts at Jefferies Financial Group

Equities researchers at Jefferies Financial Group initiated coverage on shares of Almonty Industries (NASDAQ:ALM) in a report issued on Wednesday, Briefing.com reports. The brokerage set a “buy” rating and a $26.25 price target on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 48.81% from the company’s previous close.

ALM has been the subject of a number of other research reports. Weiss Ratings raised shares of Almonty Industries from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Wednesday, August 12th. Oppenheimer lifted their price target on shares of Almonty Industries from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, June 3rd. Finally, DA Davidson upped their price target on Almonty Industries from $25.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $26.81.

Almonty Industries Stock Down 0.9%

Shares of NASDAQ:ALM opened at $17.64 on Wednesday. The business’s 50 day moving average is $15.16 and its 200 day moving average is $17.26. The stock has a market cap of $5.08 billion, a P/E ratio of 110.26 and a beta of 3.73. Almonty Industries has a 52-week low of $3.98 and a 52-week high of $24.41. The company has a quick ratio of 9.51, a current ratio of 9.58 and a debt-to-equity ratio of 1.37.

Institutional Trading of Almonty Industries

A number of hedge funds have recently modified their holdings of the stock. Leonteq Securities AG acquired a new stake in Almonty Industries during the first quarter worth about $29,000. Global Retirement Partners LLC acquired a new position in Almonty Industries in the fourth quarter valued at approximately $35,000. Rockefeller Capital Management L.P. boosted its position in Almonty Industries by 30.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,333 shares of the company’s stock worth $38,000 after purchasing an additional 1,000 shares in the last quarter. State of Wyoming acquired a new stake in shares of Almonty Industries during the 4th quarter worth approximately $41,000. Finally, Pin Oak Investment Advisors Inc. acquired a new stake in shares of Almonty Industries during the 2nd quarter worth approximately $53,000.

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.