DA Davidson Reaffirms "Buy" Rating for Almonty Industries (NASDAQ:ALM)

Almonty Industries (NASDAQ:ALM - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at DA Davidson in a note issued to investors on Tuesday, September 15th, Benzinga reports. They presently have a $33.00 price target on the stock. DA Davidson's target price indicates a potential upside of 140.52% from the stock's previous close.

ALM has been the topic of a number of other research reports. Oppenheimer lifted their price objective on Almonty Industries from $22.00 to $25.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 3rd. Weiss Ratings raised Almonty Industries from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Wednesday, August 12th. Finally, Jefferies Financial Group began coverage on shares of Almonty Industries in a research note on Wednesday, September 2nd. They set a "buy" rating and a $26.25 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $24.21.

Almonty Industries Price Performance

ALM stock traded up $1.32 during mid-day trading on Tuesday, reaching $13.72. The company's stock had a trading volume of 11,515,132 shares, compared to its average volume of 5,798,175. The stock has a market cap of $3.95 billion, a PE ratio of 85.76 and a beta of 3.75. The company has a current ratio of 9.58, a quick ratio of 9.51 and a debt-to-equity ratio of 1.37. Almonty Industries has a fifty-two week low of $5.43 and a fifty-two week high of $24.41. The company's 50 day moving average is $15.17 and its two-hundred day moving average is $17.15.

Hedge Funds Weigh In On Almonty Industries

Hedge funds have recently modified their holdings of the business. Encompass Capital Advisors LLC increased its position in shares of Almonty Industries by 47.9% during the first quarter. Encompass Capital Advisors LLC now owns 4,300,839 shares of the company's stock valued at $62,276,000 after acquiring an additional 1,392,806 shares during the last quarter. Bank of America Corp DE increased its holdings in Almonty Industries by 309.6% in the 1st quarter. Bank of America Corp DE now owns 908,911 shares of the company's stock valued at $13,161,000 after purchasing an additional 686,982 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Almonty Industries in the 2nd quarter valued at approximately $7,118,000. Public Employees Retirement System of Ohio purchased a new stake in Almonty Industries in the second quarter valued at approximately $1,806,000. Finally, Cooper Creek Partners Management LLC lifted its stake in Almonty Industries by 110.4% during the first quarter. Cooper Creek Partners Management LLC now owns 4,781,415 shares of the company's stock worth $69,235,000 after purchasing an additional 2,508,478 shares in the last quarter.

Trending Headlines about Almonty Industries

Here are the key news stories impacting Almonty Industries this week:

• Positive Sentiment: Stifel initiated coverage with a Buy rating and a $25 price target, implying substantial upside from recent trading levels. The firm cited Almonty’s Western tungsten expansion and potential production growth. Stifel starts Almonty with $25 price target on Western tungsten expansion
• Positive Sentiment: Certification of Almonty’s Korean plant is supporting the bullish case by advancing the facility toward commercial operations. Investors are also focused on a Rwanda partnership and a Spanish offtake agreement, which could broaden the company’s tungsten supply and sales network. Almonty's Dual Momentum
• Positive Sentiment: The board’s reported backing of a $300 million share buyback could provide support for the stock, signal confidence in intrinsic value and reduce the number of shares outstanding if implemented. Almonty's Board Backs $300 Million Buyback
• Positive Sentiment: Coverage highlighting Almonty as a potential breakout stock reflects investor interest in rising tungsten demand and the company’s three-continent development strategy. Is Almonty Industries the Next Big Breakout Stock?
• Neutral Sentiment: Short-interest data showed no reported short position as of September 24, leaving little evidence of an imminent short squeeze but also indicating limited bearish positioning.
• Neutral Sentiment: Goldman Sachs initiated coverage with a Hold rating and a $13 price target, contrasting with Stifel’s bullish view and suggesting the stock may already reflect much of its near-term potential. Almonty Industries Receives a Hold from Goldman Sachs
• Negative Sentiment: Shares recently fell as Sangdong entered its sales phase, suggesting a possible “sell-the-news” reaction or concerns about execution, ramp-up timing and the company’s elevated valuation. Almonty Industries stock falls as Sangdong enters sales phase

About Almonty Industries

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.