Almonty Industries (NASDAQ:ALM) Reaches New 1-Year High - Here's Why

Key Points

• Shares of Almonty Industries hit a new 52-week high, trading as high as $22.61 and last at $22.31 on heavy volume (~3.65M shares), well above its 50‑day and 200‑day moving averages of $16.88 and $11.17.
• Analyst sentiment is mixed but tilted positive: four Buys versus one Sell yields a MarketBeat consensus of Moderate Buy with a consensus price target of $18.38, even as several firms recently raised targets to $23–$25.
• Almonty, a Canada‑based tungsten miner, has a market cap of $6.44 billion, a negative P/E (-39.38) but strong liquidity (quick ratio 3.76, current ratio 3.89) and modest leverage (debt/equity 0.38), and several institutional investors have recently increased stakes.

Shares of Almonty Industries Inc. (NASDAQ:ALM - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $22.61 and last traded at $22.3140, with a volume of 3653760 shares traded. The stock had previously closed at $21.00.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ALM. Weiss Ratings reiterated a "sell (e+)" rating on shares of Almonty Industries in a research note on Monday, December 29th. B. Riley Financial lifted 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. DA Davidson reiterated a "buy" rating and issued a $25.00 target price on shares of Almonty Industries in a research note on Thursday, March 26th. Finally, Oppenheimer lifted their target price on shares of Almonty Industries from $16.00 to $19.00 and gave the company an "outperform" rating in a research note on Friday, March 20th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Almonty Industries has a consensus rating of "Moderate Buy" and a consensus price target of $18.38.

Almonty Industries Stock Performance

The company has a market cap of $6.44 billion and a P/E ratio of -39.38. The company has a quick ratio of 3.76, a current ratio of 3.89 and a debt-to-equity ratio of 0.38. The stock's 50-day moving average price is $16.88 and its 200 day moving average price is $11.17.

Hedge Funds Weigh In On Almonty Industries

A number of institutional investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. raised its position in shares of Almonty Industries by 30.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,333 shares of the company's stock valued at $38,000 after purchasing an additional 1,000 shares during the period. Serenus Wealth Advisors LLC boosted its stake in shares of Almonty Industries by 11.0% in the 4th quarter. Serenus Wealth Advisors LLC now owns 22,200 shares of the company's stock valued at $196,000 after purchasing an additional 2,200 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Almonty Industries in the 4th quarter valued at $35,000. MCF Advisors LLC lifted its position in Almonty Industries by 40.8% during the 4th quarter. MCF Advisors LLC now owns 14,084 shares of the company's stock worth $124,000 after buying an additional 4,084 shares in the last quarter. Finally, State of Wyoming acquired a new position in Almonty Industries during the 4th quarter worth about $41,000.

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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