Almonty Industries (NASDAQ:ALM) Stock Price Expected to Rise, DA Davidson Analyst Says

Almonty Industries (NASDAQ:ALM) had its target price raised by stock analysts at DA Davidson from $12.00 to $18.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson’s price target would suggest a potential upside of 41.73% from the company’s previous close.

ALM has been the topic of several other reports. Oppenheimer upped their price objective on Almonty Industries from $7.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Almonty Industries in a research note on Monday, December 29th. Finally, Wall Street Zen raised Almonty Industries from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Almonty Industries has a consensus rating of “Moderate Buy” and a consensus target price of $12.17.

Almonty Industries Stock Down 4.9%

NASDAQ ALM opened at $12.70 on Wednesday. Almonty Industries has a twelve month low of $3.16 and a twelve month high of $13.84. The company has a debt-to-equity ratio of 16.37, a quick ratio of 0.63 and a current ratio of 0.77. The company has a market capitalization of $3.34 billion and a PE ratio of -55.21. The company has a 50-day simple moving average of $9.14.

Institutional Trading of Almonty Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FNY Investment Advisers LLC bought a new position in shares of Almonty Industries in the third quarter valued at about $30,000. Banque Cantonale Vaudoise acquired a new stake in Almonty Industries in the 3rd quarter valued at about $54,000. MCF Advisors LLC bought a new position in shares of Almonty Industries in the third quarter worth about $60,000. Oppenheimer & Co. Inc. acquired a new position in shares of Almonty Industries during the third quarter worth approximately $66,000. Finally, Fifth Lane Capital LP bought a new stake in shares of Almonty Industries during the third quarter valued at approximately $75,000.

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.