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

Shares of Almonty Industries Inc. (NASDAQ:ALM) have received an average rating of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $18.3750.

A number of equities analysts have recently weighed in on the stock. B. Riley Financial lifted their price target on shares of Almonty Industries from $17.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. DA Davidson reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Almonty Industries in a research report on Thursday, March 26th. Oppenheimer boosted their price objective on shares of Almonty Industries from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, March 20th. Finally, Texas Capital raised shares of Almonty Industries to a “strong-buy” rating in a research report on Thursday, April 16th.

Institutional Investors Weigh In On Almonty Industries

Several institutional investors have recently added to or reduced their stakes in ALM. Van ECK Associates Corp lifted its position in 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 in the last quarter. Encompass Capital Advisors LLC bought a new stake in Almonty Industries in the 4th quarter valued at $25,620,000. Cooper Creek Partners Management LLC lifted its position in 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 acquiring an additional 2,508,478 shares in the last quarter. Next Century Growth Investors LLC bought a new stake in Almonty Industries in the 4th quarter valued at $16,345,000. Finally, Telemark Asset Management LLC acquired a new stake in Almonty Industries in the 3rd quarter valued at $7,839,000.

Almonty Industries Trading Down 5.0%

Shares of NASDAQ ALM opened at $19.66 on Friday. The company’s fifty day moving average is $18.89 and its 200-day moving average is $13.90. The stock has a market cap of $5.58 billion and a price-to-earnings ratio of -39.32. Almonty Industries has a twelve month low of $3.16 and a twelve month high of $24.41. 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 announced its quarterly earnings results on Monday, May 11th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. The company had revenue of $18.52 million for the quarter, compared to analysts’ expectations of $15.44 million. Almonty Industries had a negative net margin of 262.29% and a negative return on equity of 11.01%. Equities research analysts predict that Almonty Industries will post 0.71 EPS for the current 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.