Almonty Industries Inc. (NASDAQ:ALM) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• Almonty Industries has a consensus “Buy” rating from five analysts, including three buys, one strong buy and one hold. The average 12-month price target is $27.00.
• Recent analysts raised their targets, with Oppenheimer increasing its objective to $25 and DA Davidson lifting its target to $33; Weiss Ratings upgraded the stock from sell to hold.
• ALM opened at $17.80 and was down 1.3%, with a $5.13 billion market capitalization and a 52-week range of $3.98 to $24.41. Several institutional investors, including Van ECK Associates and Cooper Creek Partners, recently increased their holdings.

Almonty Industries Inc. (NASDAQ:ALM - Get Free Report) has been assigned a consensus rating of "Buy" from the five research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $27.00.

ALM has been the topic of a number of research reports. Oppenheimer raised their price objective 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. DA Davidson upped their target price on shares of Almonty Industries from $25.00 to $33.00 and gave the company a "buy" rating in a report on Friday, July 10th. Finally, Weiss Ratings upgraded shares of Almonty Industries from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Wednesday, August 12th.

Almonty Industries Trading Down 1.3%

Almonty Industries stock opened at $17.80 on Tuesday. Almonty Industries has a 52-week low of $3.98 and a 52-week high of $24.41. The company has a market cap of $5.13 billion and a P/E ratio of 111.26. 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 business has a 50-day simple moving average of $15.17 and a two-hundred day simple moving average of $17.23.

Hedge Funds Weigh In On Almonty Industries

Institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp lifted its position in Almonty Industries by 13,294.7% during the fourth quarter. Van ECK Associates Corp now owns 11,239,482 shares of the company's stock valued at $99,013,000 after purchasing an additional 11,155,572 shares in the last quarter. Encompass Capital Advisors LLC purchased a new stake in Almonty Industries in the fourth quarter worth about $25,620,000. Cooper Creek Partners Management LLC raised its stake in shares of Almonty Industries by 110.4% in the first quarter. Cooper Creek Partners Management LLC now owns 4,781,415 shares of the company's stock worth $69,235,000 after buying an additional 2,508,478 shares during the period. Next Century Growth Investors LLC bought a new position in shares of Almonty Industries in the fourth quarter worth about $16,345,000. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Almonty Industries during the 3rd quarter valued at about $7,839,000.

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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