Almonty Industries Inc. (ALM) - What Are Researchers Saying About This Stock?

Key Points

• Analyst consensus is “Moderate Buy”: Five of eight covering brokerages rate Almonty Industries a buy, one rates it a strong buy, and two recommend holding. The average 12-month price target is $23.54.
• Recent analyst targets vary significantly, including $33.00 from DA Davidson, $26.25 from Jefferies, $21.00 from Stifel, and $13.00 from Goldman Sachs, which initiated coverage with a hold rating.
• Almonty opened at $8.90 and has a market capitalization of approximately $2.56 billion, with a high beta of 4.15 and a share price well below its 12-month high of $24.41. The company focuses on tungsten mining, including operations in Portugal and the redevelopment of its Sangdong project in South Korea.

Shares of Almonty Industries Inc. (NASDAQ:ALM - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the eight brokerages that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $23.54.

Several research firms have weighed in on ALM. DA Davidson reissued a "buy" rating and set a $33.00 target price on shares of Almonty Industries in a research report on Tuesday, September 15th. Jefferies Financial Group initiated coverage on shares of Almonty Industries in a report on Wednesday, September 2nd. They issued a "buy" rating and a $26.25 price target for the company. The Goldman Sachs Group started coverage on shares of Almonty Industries in a report on Thursday, September 24th. They issued a "hold" rating and a $13.00 price target for the company. Weiss Ratings upgraded shares of Almonty Industries from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, September 25th. Finally, Stifel Nicolaus dropped their price objective on shares of Almonty Industries from $25.00 to $21.00 and set a "buy" rating on the stock in a report on Tuesday.

Almonty Industries Stock Up 0.8%

Almonty Industries stock opened at $8.90 on Wednesday. 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 firm has a market cap of $2.56 billion, a P/E ratio of 55.63 and a beta of 4.15. The business has a fifty day moving average of $14.65 and a two-hundred day moving average of $16.44. Almonty Industries has a twelve month low of $5.43 and a twelve month high of $24.41.

Hedge Funds Weigh In On Almonty Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. increased its holdings 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. Leonteq Securities AG purchased a new position in shares of Almonty Industries in the first quarter worth about $29,000. Pin Oak Investment Advisors Inc. purchased a new position in shares of Almonty Industries in the second quarter worth about $53,000. Nykredit A S purchased a new position in shares of Almonty Industries in the second quarter worth about $58,000. Finally, Royal Bank of Canada lifted its holdings in shares of Almonty Industries by 6.1% during the first quarter. Royal Bank of Canada now owns 74,732 shares of the company's stock worth $1,082,000 after purchasing an additional 4,280 shares during the period.

Almonty Industries Company Profile

Almonty Industries Inc is a mining and development company focused primarily on tungsten, a critical industrial metal used in cutting tools, hard metals, defense applications, electronics and other specialized products. The company develops and operates tungsten projects and produces tungsten concentrates for sale to industrial customers and processors.

Almonty's principal assets include the Panasqueira tungsten mine in Portugal, one of the company's operating assets, and the Sangdong tungsten project in South Korea, which is being redeveloped as a major source of tungsten concentrate.

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