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

Almonty Industries Inc. (NASDAQ:ALM) has been given an average recommendation of “Moderate Buy” by the five research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $15.1250.

Several brokerages recently weighed in on ALM. B. Riley Financial raised their price target on shares of Almonty Industries from $10.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Almonty Industries in a report on Monday, December 29th. Finally, DA Davidson set a $25.00 target price on Almonty Industries in a report on Friday, March 6th.

Hedge Funds Weigh In On Almonty Industries

Several large investors have recently bought and sold shares of ALM. Marathon Capital Management purchased a new position in Almonty Industries during the third quarter worth about $1,509,000. Telemark Asset Management LLC bought a new stake in Almonty Industries in the 3rd quarter worth about $7,839,000. First Eagle Investment Management LLC purchased a new stake in Almonty Industries in the 3rd quarter valued at about $543,000. Huntleigh Advisors Inc. purchased a new stake in Almonty Industries in the 3rd quarter valued at about $661,000. Finally, Old West Investment Management LLC bought a new position in shares of Almonty Industries during the 3rd quarter worth approximately $2,148,000.

Almonty Industries Stock Down 1.9%

Shares of NASDAQ ALM opened at $19.29 on Tuesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.38 and a quick ratio of 2.25. The company has a 50-day moving average price of $14.02 and a 200-day moving average price of $9.35. The stock has a market capitalization of $5.41 billion and a P/E ratio of -83.87. Almonty Industries has a 1 year low of $3.16 and a 1 year high of $22.55.

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.