Almonty Industries (NASDAQ:ALM) Stock Rating Upgraded by Texas Capital

Key Points

• Texas Capital upgraded Almonty Industries (NASDAQ:ALM) to a "strong-buy", and several analysts have raised price targets (DA Davidson $25, B. Riley $23, Oppenheimer $19); the consensus is one Strong Buy, four Buy and one Sell with an average rating of "Moderate Buy" and an average price target of $18.38.
• ALM opened at $23.42, trading near its 12‑month high of $24.41 with 50‑day/200‑day moving averages of $17.26/$11.37; the company has a $6.62 billion market cap and a negative P/E of -40.38.
• Almonty is a Canada‑based tungsten miner producing concentrates from operating and development projects in Europe and Asia, and several institutional investors have recently initiated or added positions in the stock.

Almonty Industries (NASDAQ:ALM - Get Free Report) was upgraded by Texas Capital to a "strong-buy" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on ALM. DA Davidson reiterated a "buy" rating and set a $25.00 price target on shares of Almonty Industries in a research report on Thursday, March 26th. Oppenheimer lifted their price target on shares of Almonty Industries from $16.00 to $19.00 and gave the company an "outperform" rating in a research report on Friday, March 20th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Almonty Industries in a research report on Monday, December 29th. Finally, B. Riley Financial lifted their price target on shares of Almonty Industries from $17.00 to $23.00 and gave the company a "buy" rating in a research report on Friday, March 20th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $18.38.

Almonty Industries Price Performance

ALM stock opened at $23.42 on Thursday. The firm has a 50 day moving average of $17.26 and a 200-day moving average of $11.37. Almonty Industries has a 12-month low of $3.16 and a 12-month high of $24.41. The company has a current ratio of 3.89, a quick ratio of 3.76 and a debt-to-equity ratio of 0.38. The company has a market cap of $6.62 billion and a price-to-earnings ratio of -40.38.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ALM. Huntleigh Advisors Inc. acquired a new position in shares of Almonty Industries during the 3rd quarter worth approximately $661,000. BLB&B Advisors LLC acquired a new position in shares of Almonty Industries during the 3rd quarter worth approximately $298,000. General American Investors Co. Inc. acquired a new position in shares of Almonty Industries during the 3rd quarter worth approximately $246,000. Old West Investment Management LLC acquired a new position in shares of Almonty Industries during the 3rd quarter worth approximately $2,148,000. Finally, MCF Advisors LLC acquired a new position in shares of Almonty Industries during the 3rd quarter worth approximately $60,000.

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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