Almonty Industries Inc. (NASDAQ:ALM) Receives $18.38 Consensus PT from Analysts

Shares of Almonty Industries Inc. (NASDAQ:ALM) have been given a consensus rating of “Moderate Buy” by the six research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $18.3750.

Several brokerages have issued reports on ALM. Oppenheimer lifted their price target on shares of Almonty Industries from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, March 20th. B. Riley Financial upped their target price on Almonty Industries from $17.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Texas Capital upgraded Almonty Industries to a “strong-buy” rating in a research note on Thursday, April 16th. Finally, DA Davidson reiterated a “buy” rating and set a $25.00 price objective on shares of Almonty Industries in a research note on Thursday, March 26th.

Institutional Trading of Almonty Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its position in shares of Almonty Industries by 13,294.7% in the 4th quarter. Van ECK Associates Corp now owns 11,239,482 shares of the company’s stock valued at $99,013,000 after acquiring an additional 11,155,572 shares during the period. Cooper Creek Partners Management LLC raised its holdings in shares of Almonty Industries by 110.4% in the 1st quarter. Cooper Creek Partners Management LLC now owns 4,781,415 shares of the company’s stock valued at $69,235,000 after purchasing an additional 2,508,478 shares during the period. Encompass Capital Advisors LLC raised its holdings in shares of Almonty Industries by 47.9% in the 1st quarter. Encompass Capital Advisors LLC now owns 4,300,839 shares of the company’s stock valued at $62,276,000 after purchasing an additional 1,392,806 shares during the period. Next Century Growth Investors LLC acquired a new stake in Almonty Industries in the 4th quarter valued at about $16,345,000. Finally, Telemark Asset Management LLC acquired a new stake in Almonty Industries in the 3rd quarter valued at about $7,839,000.

Almonty Industries Trading Up 1.8%

NASDAQ:ALM opened at $20.70 on Friday. The company has a market cap of $5.87 billion and a P/E ratio of -41.40. Almonty Industries has a twelve month low of $3.16 and a twelve month high of $24.41. The business has a 50 day moving average price of $18.86 and a two-hundred day moving average price of $13.86. The company has a quick ratio of 2.37, a current ratio of 2.45 and a debt-to-equity ratio of 0.30.

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 the consensus estimate of $15.44 million. As a group, analysts expect that Almonty Industries will post 0.71 EPS for the current fiscal year.

About Almonty Industries

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.