Almonty Industries Inc. (NASDAQ:ALM) Given Average Rating of “Moderate Buy” by Analysts

Shares of Almonty Industries Inc. (NASDAQ:ALM) have been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $19.8750.

Several research analysts recently weighed in on ALM shares. DA Davidson reaffirmed a “buy” rating and set a $25.00 target price on shares of Almonty Industries in a research note on Thursday, March 26th. B. Riley Financial raised their target price on Almonty Industries from $17.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Oppenheimer raised their target price on Almonty Industries from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. Finally, Texas Capital raised Almonty Industries to a “strong-buy” rating in a research note on Thursday, April 16th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Van ECK Associates Corp boosted its stake in Almonty Industries by 13,294.7% during the fourth quarter. Van ECK Associates Corp now owns 11,239,482 shares of the company’s stock valued at $99,013,000 after buying an additional 11,155,572 shares in the last quarter. Cooper Creek Partners Management LLC boosted its stake in Almonty Industries by 110.4% during the first quarter. Cooper Creek Partners Management LLC now owns 4,781,415 shares of the company’s stock valued at $69,235,000 after buying an additional 2,508,478 shares in the last quarter. Encompass Capital Advisors LLC lifted its holdings in shares of Almonty Industries by 47.9% during the first quarter. Encompass Capital Advisors LLC now owns 4,300,839 shares of the company’s stock valued at $62,276,000 after purchasing an additional 1,392,806 shares during the last quarter. Next Century Growth Investors LLC purchased a new stake in shares of Almonty Industries during the fourth quarter valued at $16,345,000. Finally, Telemark Asset Management LLC purchased a new stake in shares of Almonty Industries during the third quarter valued at $7,839,000.

Almonty Industries Trading Down 0.8%

NASDAQ:ALM opened at $18.66 on Thursday. Almonty Industries has a 1 year low of $3.16 and a 1 year high of $24.41. The stock has a market cap of $5.33 billion and a price-to-earnings ratio of -37.32. The business has a fifty day moving average of $19.64 and a 200-day moving average of $15.27. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.37 and a current ratio of 2.45.

Almonty Industries (NASDAQ:ALM) last released its quarterly earnings results on Monday, May 11th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. Almonty Industries had a negative return on equity of 11.01% and a negative net margin of 262.29%.The company had revenue of $18.52 million during the quarter, compared to analysts’ expectations of $15.44 million. Equities analysts predict that Almonty Industries will post 0.46 earnings per share for the current year.

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.