Almonty Industries Inc. (NASDAQ:ALM) Given Consensus Rating of “Buy” by Analysts

Almonty Industries Inc. (NASDAQ:ALM) has earned a consensus recommendation of “Buy” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $26.8125.

Several brokerages have recently issued reports on ALM. Weiss Ratings upgraded shares of Almonty Industries from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. Oppenheimer increased their price objective on Almonty Industries from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Jefferies Financial Group initiated coverage on Almonty Industries in a research report on Wednesday, September 2nd. They issued a “buy” rating and a $26.25 target price for the company. Finally, DA Davidson boosted their target price on Almonty Industries from $25.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, July 10th.

Almonty Industries Price Performance

ALM opened at $17.57 on Tuesday. Almonty Industries has a fifty-two week low of $4.10 and a fifty-two week high of $24.41. The firm has a 50-day moving average of $15.26 and a 200 day moving average of $17.38. The firm has a market cap of $5.06 billion, a P/E ratio of 109.82 and a beta of 3.75. The company has a debt-to-equity ratio of 1.37, a quick ratio of 9.51 and a current ratio of 9.58.

Institutional Investors Weigh In On Almonty Industries

Several large investors have recently added to or reduced their stakes in ALM. Rockefeller Capital Management L.P. lifted its holdings in 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 purchasing an additional 1,000 shares during the last quarter. Leonteq Securities AG purchased a new position in shares of Almonty Industries in the first quarter worth about $29,000. Pin Oak Investment Advisors Inc. bought a new stake in shares of Almonty Industries in the second quarter valued at approximately $53,000. Nykredit A S bought a new stake in shares of Almonty Industries in the second quarter valued at approximately $58,000. Finally, Global Retirement Partners LLC bought a new stake in shares of Almonty Industries in the fourth quarter valued at approximately $35,000.

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.