Almonty Industries Inc. (NASDAQ:ALM) Given Average Recommendation of "Moderate Buy" by Analysts

Shares of Almonty Industries Inc. (NASDAQ:ALM - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six research firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $18.3750.

A number of analysts have issued reports on the stock. Oppenheimer boosted their price objective on shares of Almonty Industries from $16.00 to $19.00 and gave the company an "outperform" rating in a report on Friday, March 20th. Texas Capital raised shares of Almonty Industries to a "strong-buy" rating in a report on Thursday, April 16th. DA Davidson reissued a "buy" rating and issued a $25.00 price objective on shares of Almonty Industries in a report on Thursday, March 26th. Finally, B. Riley Financial boosted their price objective on shares of Almonty Industries from $17.00 to $23.00 and gave the company a "buy" rating in a report on Friday, March 20th.

Almonty Industries Stock Performance

NASDAQ:ALM opened at $20.77 on Wednesday. The stock has a market cap of $5.87 billion and a P/E ratio of -35.81. The stock has a 50 day simple moving average of $18.42 and a 200 day simple moving average of $12.19. The company has a current ratio of 3.89, a quick ratio of 3.76 and a debt-to-equity ratio of 0.38. Almonty Industries has a 1-year low of $3.16 and a 1-year high of $24.41.

Institutional Trading of Almonty Industries

Institutional investors and hedge funds have recently made changes to their positions in the company. Marathon Capital Management bought a new position in Almonty Industries in the 3rd quarter valued at approximately $1,509,000. First Eagle Investment Management LLC bought a new position in shares of Almonty Industries during the third quarter valued at $543,000. Telemark Asset Management LLC bought a new position in shares of Almonty Industries during the third quarter valued at $7,839,000. Huntleigh Advisors Inc. bought a new position in shares of Almonty Industries during the third quarter valued at $661,000. Finally, Old West Investment Management LLC bought a new position in shares of Almonty Industries during the third quarter valued at $2,148,000.

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.

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