Almonty Industries (NASDAQ:ALM) Hits New 1-Year High - Still a Buy?

Key Points

• 52-week high: Almonty hit a new 52-week high of $21.33 (last $21.1880), up about 8.6% with ~1,935,979 shares traded versus a prior close of $19.70.
• Analyst views are mixed but lean positive — consensus rating is Moderate Buy (4 Buys, 1 Sell) with a consensus price target of $15.13, while individual targets range from Weiss's sell to DA Davidson's $25 and B. Riley's upgraded $17 target with a Buy rating.
• Significant institutional buying: VanEck Associates Corp massively increased its stake to ~11.24M shares (~$99M), and several other firms (Encompass, Next Century, Telemark, Alyeska) established large new positions, indicating strong institutional inflows.

Almonty Industries Inc. (NASDAQ:ALM - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The stock traded as high as $21.33 and last traded at $21.1880, with a volume of 1935979 shares trading hands. The stock had previously closed at $19.70.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Weiss Ratings reiterated a "sell (e+)" rating on shares of Almonty Industries in a research note on Monday, December 29th. B. Riley Financial upped their price target on Almonty Industries from $10.00 to $17.00 and gave the company a "buy" rating in a report on Friday, February 13th. Finally, DA Davidson set a $25.00 target price on shares of Almonty Industries in a report on Friday. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Almonty Industries currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.13.

Almonty Industries Stock Up 8.6%

The firm has a market capitalization of $5.96 billion and a PE ratio of -92.27. The business's fifty day moving average price is $12.85 and its 200 day moving average price is $8.78. The company has a quick ratio of 2.25, a current ratio of 2.38 and a debt-to-equity ratio of 1.02.

Institutional Investors Weigh In On Almonty Industries

Large investors have recently modified their holdings of the stock. Van ECK Associates Corp raised its holdings 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 worth $99,013,000 after purchasing an additional 11,155,572 shares during the last quarter. Encompass Capital Advisors LLC acquired a new position in shares of Almonty Industries during the 4th quarter worth $25,620,000. Next Century Growth Investors LLC acquired a new position in shares of Almonty Industries during the 4th quarter worth $16,345,000. Telemark Asset Management LLC purchased a new stake in shares of Almonty Industries in the 3rd quarter worth about $7,839,000. Finally, Alyeska Investment Group L.P. acquired a new stake in Almonty Industries in the 3rd quarter valued at about $7,839,000.

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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