Almonty Industries (NASDAQ:ALM) Price Target Raised to $17.00

Almonty Industries (NASDAQ:ALM) had its price target boosted by B. Riley Securities from $10.00 to $17.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts also recently weighed in on ALM. Wall Street Zen upgraded Almonty Industries from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Almonty Industries in a report on Monday, December 29th. Finally, DA Davidson lifted their target price on shares of Almonty Industries from $12.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.38.

Almonty Industries Trading Up 8.4%

NASDAQ ALM opened at $13.84 on Friday. The business has a fifty day moving average price of $9.99. The stock has a market capitalization of $3.64 billion and a price-to-earnings ratio of -60.17. The company has a quick ratio of 2.25, a current ratio of 2.38 and a debt-to-equity ratio of 1.02. Almonty Industries has a 12-month low of $3.16 and a 12-month high of $14.91.

Hedge Funds Weigh In On Almonty Industries

A number of institutional investors have recently bought and sold shares of ALM. Marshall Wace LLP boosted its holdings in shares of Almonty Industries by 7,507.2% in the 4th quarter. Marshall Wace LLP now owns 1,274,353 shares of the company’s stock valued at $11,227,000 after acquiring an additional 1,257,601 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Almonty Industries during the fourth quarter worth $8,274,000. DLD Asset Management LP acquired a new position in Almonty Industries during the fourth quarter valued at $396,000. Van ECK Associates Corp boosted its holdings in Almonty Industries by 13,294.7% in the fourth quarter. Van ECK Associates Corp now owns 11,239,482 shares of the company’s stock valued at $99,013,000 after purchasing an additional 11,155,572 shares during the last quarter. Finally, HRT Financial LP grew its position in Almonty Industries by 53.7% during the 4th quarter. HRT Financial LP now owns 828,431 shares of the company’s stock worth $7,298,000 after purchasing an additional 289,272 shares during the period.

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.