Almonty Industries (NASDAQ:ALM) Now Covered by Analysts at Stifel Nicolaus

Key Points

• Stifel Nicolaus initiated coverage of Almonty Industries with a “buy” rating and a $25 price target, implying approximately 101.6% upside from the prior close.
• Analyst sentiment is broadly positive: Almonty has an overall “Moderate Buy” rating and an average price target of $24.21, though Goldman Sachs issued a “neutral” rating with a $13 target.
• Shares opened at $12.40 and were reported down 9%, while the company continues developing and operating tungsten projects, including the Sangdong project in South Korea and the Panasqueira mine in Portugal.

Equities research analysts at Stifel Nicolaus started coverage on shares of Almonty Industries (NASDAQ:ALM - Get Free Report) in a research note issued on Friday, Benzinga reports. The brokerage set a "buy" rating and a $25.00 price target on the stock. Stifel Nicolaus' target price suggests a potential upside of 101.61% from the company's previous close.

A number of other analysts have also weighed in on ALM. Oppenheimer increased their target price on shares of Almonty Industries from $22.00 to $25.00 and gave the stock an "outperform" rating in a report on Wednesday, June 3rd. Jefferies Financial Group began coverage on Almonty Industries in a report on Wednesday, September 2nd. They set a "buy" rating and a $26.25 price target on the stock. DA Davidson reaffirmed a "buy" rating and set a $33.00 price target on shares of Almonty Industries in a research report on Tuesday, September 15th. The Goldman Sachs Group initiated coverage on Almonty Industries in a report on Thursday. They issued a "neutral" rating and a $13.00 price objective for the company. Finally, Weiss Ratings upgraded Almonty Industries from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $24.21.

Almonty Industries Trading Down 9.0%

NASDAQ:ALM opened at $12.40 on Friday. The firm has a market capitalization of $3.57 billion, a P/E ratio of 77.50 and a beta of 3.75. The company has a quick ratio of 9.51, a current ratio of 9.58 and a debt-to-equity ratio of 1.37. The company has a fifty day moving average of $15.17 and a 200 day moving average of $17.15. Almonty Industries has a 52 week low of $5.25 and a 52 week high of $24.41.

Institutional Trading of Almonty Industries

Several large investors have recently bought and sold shares of the company. Nykredit A S purchased a new position in shares of Almonty Industries in the 2nd quarter valued at approximately $58,000. Pin Oak Investment Advisors Inc. bought a new stake in shares of Almonty Industries during the second quarter valued at approximately $53,000. Public Employees Retirement System of Ohio purchased a new stake in Almonty Industries in the second quarter worth $1,806,000. Bank of New York Mellon Corp bought a new position in Almonty Industries in the second quarter worth $7,118,000. Finally, Bank of America Corp DE lifted its position in Almonty Industries by 309.6% during the first quarter. Bank of America Corp DE now owns 908,911 shares of the company's stock valued at $13,161,000 after buying an additional 686,982 shares during the period.

Almonty Industries Company Profile

Almonty Industries Inc is a mining and development company focused primarily on tungsten, a specialty metal used in industrial, technology, energy, automotive, aerospace and defense applications. The company's activities include the exploration, development, operation and redevelopment of tungsten-mining projects, as well as the production of tungsten concentrates.

Almonty's principal assets include the Sangdong Tungsten Project in South Korea, one of the company's key development projects, and the Panasqueira tungsten mine in Portugal, a producing operation with a long operating history.

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