Almonty Industries (NASDAQ:ALM) Now Covered by Analysts at The Goldman Sachs Group

Investment analysts at The Goldman Sachs Group started coverage on shares of Almonty Industries (NASDAQ:ALM) in a note issued to investors on Thursday, Marketbeat reports. The brokerage set a “hold” rating and a $13.00 price target on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 4.84% from the stock’s current price.

Several other equities analysts have also commented on the stock. Oppenheimer upped their price target on shares of Almonty Industries from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Jefferies Financial Group assumed coverage on shares of Almonty Industries in a research report on Wednesday, September 2nd. They set a “buy” rating and a $26.25 target price on the stock. DA Davidson restated a “buy” rating and set a $33.00 price objective on shares of Almonty Industries in a research note on Tuesday, September 15th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.21.

Almonty Industries Price Performance

ALM stock opened at $12.40 on Thursday. Almonty Industries has a 1 year low of $5.25 and a 1 year high of $24.41. The firm has a market cap of $3.57 billion, a P/E ratio of 77.50 and a beta of 3.75. The stock’s 50 day moving average price is $15.17 and its 200 day moving average price is $17.15. 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 Inflows and Outflows

Several large investors have recently bought and sold shares of ALM. Leonteq Securities AG acquired a new stake in Almonty Industries during the first quarter valued at $29,000. Rockefeller Capital Management L.P. lifted its position 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 worth $38,000 after purchasing an additional 1,000 shares during the last quarter. 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 position in shares of Almonty Industries during the 2nd quarter worth about $58,000. Finally, MCF Advisors LLC raised its holdings in Almonty Industries by 40.8% in the 4th quarter. MCF Advisors LLC now owns 14,084 shares of the company’s stock valued at $124,000 after acquiring an additional 4,084 shares in the last quarter.

Almonty Industries Company Profile

Almonty Industries Inc is a mining and development company focused primarily on tungsten, a specialty metal used in industrial, technology, energy, automotive, aerospace and defense applications. The company’s activities include the exploration, development, operation and redevelopment of tungsten-mining projects, as well as the production of tungsten concentrates.

Almonty’s principal assets include the Sangdong Tungsten Project in South Korea, one of the company’s key development projects, and the Panasqueira tungsten mine in Portugal, a producing operation with a long operating history.