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

Key Points

• Almonty Industries has a consensus analyst rating of “Moderate Buy” from six covering firms, with four buy ratings, one strong buy, and one sell. The average 1-year price target is $21.88.
• Several analysts recently raised their outlooks, including DA Davidson lifting its target to $33 and Texas Capital upgrading the stock to strong-buy. Oppenheimer and B. Riley also increased their price objectives.
• The company’s latest quarter beat revenue expectations, posting $18.52 million in revenue versus the $15.44 million estimate and matching EPS estimates at $0.01. Despite that, Almonty still reported negative margins and a negative return on equity.

Shares of Almonty Industries Inc. (NASDAQ:ALM - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the six ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $21.8750.

A number of analysts have recently commented on ALM shares. DA Davidson upped their price objective on Almonty Industries from $25.00 to $33.00 and gave the stock a "buy" rating in a report on Friday. Texas Capital raised Almonty Industries to a "strong-buy" rating in a research report on Thursday, April 16th. B. Riley Financial upped their price target on Almonty Industries from $17.00 to $23.00 and gave the stock a "buy" rating in a research note on Friday, March 20th. Oppenheimer raised their price objective on Almonty Industries from $22.00 to $25.00 and gave the stock an "outperform" rating in a report on Wednesday, June 3rd. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Almonty Industries in a research note on Thursday, June 18th.

Almonty Industries Price Performance

ALM opened at $16.61 on Monday. The company's 50 day simple moving average is $18.10 and its 200 day simple moving average is $16.12. 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 has a 1 year low of $3.16 and a 1 year high of $24.41. The stock has a market capitalization of $4.74 billion and a PE ratio of -33.22.

Almonty Industries (NASDAQ:ALM - Get Free Report) last issued its quarterly 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 during the quarter, compared to analyst estimates 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 expect that Almonty Industries will post 0.46 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ALM. Benin Management CORP purchased a new position in shares of Almonty Industries in the 4th quarter valued at $1,068,000. Apis Capital Advisors LLC purchased a new stake in Almonty Industries during the 3rd quarter worth $2,040,000. Marathon Capital Management boosted its position in Almonty Industries by 137.2% during the 4th quarter. Marathon Capital Management now owns 593,515 shares of the company's stock worth $5,229,000 after purchasing an additional 343,280 shares during the period. ArrowMark Colorado Holdings LLC acquired a new stake in Almonty Industries in the 3rd quarter valued at $7,807,000. Finally, Intact Investment Management Inc. acquired a new stake in Almonty Industries in the 4th quarter valued at $732,000.

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.

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