DA Davidson Reaffirms Buy Rating for Almonty Industries (NASDAQ:ALM)

Almonty Industries (NASDAQ:ALM)‘s stock had its “buy” rating reissued by research analysts at DA Davidson in a research note issued to investors on Thursday,Benzinga reports. They presently have a $25.00 target price on the stock. DA Davidson’s target price would suggest a potential upside of 67.67% from the stock’s current price.

Several other equities research analysts have also commented on ALM. Weiss Ratings restated a “sell (e+)” rating on shares of Almonty Industries in a research note on Monday, December 29th. B. Riley Financial lifted their price target on shares of Almonty Industries from $17.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Finally, Oppenheimer raised their target price on shares of Almonty Industries from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, March 20th. Four 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.com, Almonty Industries presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.38.

Almonty Industries Price Performance

Shares of NASDAQ:ALM opened at $14.91 on Thursday. Almonty Industries has a 52 week low of $3.16 and a 52 week high of $22.55. The business has a fifty day simple moving average of $15.32 and a 200-day simple moving average of $10.03. The company has a quick ratio of 3.76, a current ratio of 3.89 and a debt-to-equity ratio of 0.38. The company has a market cap of $4.18 billion and a P/E ratio of -25.71.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. boosted 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 valued at $38,000 after purchasing an additional 1,000 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Almonty Industries by 59.1% in the 4th quarter. Mackenzie Financial Corp now owns 111,224 shares of the company’s stock worth $982,000 after acquiring an additional 41,331 shares during the last quarter. Quadrature Capital Ltd raised its position in shares of Almonty Industries by 35.0% during the fourth quarter. Quadrature Capital Ltd now owns 108,069 shares of the company’s stock worth $952,000 after purchasing an additional 27,993 shares during the period. Man Group plc purchased a new stake in shares of Almonty Industries during the fourth quarter valued at $1,510,000. Finally, Manatuck Hill Partners LLC acquired a new stake in shares of Almonty Industries during the fourth quarter valued at approximately $1,762,000.

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.