Oppenheimer Issues Positive Forecast for Almonty Industries (NASDAQ:ALM) Stock Price

Almonty Industries (NASDAQ:ALM) had its price objective lifted by Oppenheimer from $22.00 to $25.00 in a report published on Wednesday,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other equities analysts have also recently weighed in on ALM. B. Riley Financial raised their target price on shares of Almonty Industries from $17.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Texas Capital raised shares of Almonty Industries to a “strong-buy” rating in a research note on Thursday, April 16th. Finally, DA Davidson reissued a “buy” rating and issued a $25.00 target price on shares of Almonty Industries in a research note on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.88.

Almonty Industries Stock Performance

Shares of NASDAQ:ALM opened at $19.96 on Wednesday. The company has a market capitalization of $5.66 billion and a price-to-earnings ratio of -39.92. The firm’s 50 day simple moving average is $19.08 and its 200 day simple moving average is $14.22. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.45 and a quick ratio of 2.37. Almonty Industries has a fifty-two week low of $3.16 and a fifty-two week high of $24.41.

Almonty Industries (NASDAQ:ALM) last announced its earnings results on Monday, May 11th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $18.52 million for the quarter, compared to the consensus estimate of $15.44 million. Almonty Industries had a negative net margin of 262.29% and a negative return on equity of 11.01%. As a group, sell-side analysts forecast that Almonty Industries will post 0.71 earnings per share for the current year.

Institutional Investors Weigh In On Almonty Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Leonteq Securities AG acquired a new position in Almonty Industries during the first quarter worth about $29,000. Global Retirement Partners LLC acquired a new position in Almonty Industries during the fourth quarter worth about $35,000. Rockefeller Capital Management L.P. raised its stake in Almonty Industries by 30.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,333 shares of the company’s stock worth $38,000 after acquiring an additional 1,000 shares in the last quarter. State of Wyoming acquired a new position in Almonty Industries during the fourth quarter worth about $41,000. Finally, FNY Investment Advisers LLC acquired a new position in Almonty Industries during the third quarter worth about $30,000.

Almonty Industries Company Profile

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.