Almonty Industries (NASDAQ:ALM) Trading Up 6.8% – Time to Buy?

Shares of Almonty Industries Inc. (NASDAQ:ALM) rose 6.8% on Monday . The company traded as high as $7.77 and last traded at $7.73. Approximately 890,152 shares changed hands during trading, a decline of 50% from the average daily volume of 1,772,016 shares. The stock had previously closed at $7.24.

Analyst Ratings Changes

Several research analysts have weighed in on ALM shares. DA Davidson raised their price objective on shares of Almonty Industries from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Almonty Industries in a research report on Monday, December 1st. Oppenheimer lifted their price target on Almonty Industries from $7.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 15th. Cantor Fitzgerald started coverage on Almonty Industries in a report on Wednesday, August 13th. They issued an “overweight” rating and a $6.50 price target for the company. Finally, Wall Street Zen upgraded shares of Almonty Industries from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.17.

Almonty Industries Stock Down 4.1%

The company has a debt-to-equity ratio of 16.37, a current ratio of 0.77 and a quick ratio of 0.63. The firm’s fifty day simple moving average is $7.08.

Hedge Funds Weigh In On Almonty Industries

Hedge funds have recently modified their holdings of the stock. Banque Cantonale Vaudoise purchased a new position in shares of Almonty Industries in the third quarter worth approximately $54,000. MCF Advisors LLC purchased a new position in shares of Almonty Industries during the 3rd quarter valued at $60,000. Oppenheimer & Co. Inc. acquired a new position in Almonty Industries in the 3rd quarter worth about $66,000. Scientech Research LLC acquired a new position in Almonty Industries in the third quarter worth approximately $75,000. Finally, Fifth Lane Capital LP acquired a new position in shares of Almonty Industries during the 3rd quarter worth $75,000.

About Almonty Industries

Almonty Industries Inc is a producer of tungsten concentrate. The Company is currently mining, processing and shipping tungsten concentrate from its Panasqueira Mine in Portugal. Almonty Industries Inc is based in TORONTO.