Almonty Industries Inc. (NASDAQ:ALM) Stock Has Consensus Price Target of $22.54

Key Points

• Analyst sentiment is moderately bullish: Eight firms rate Almonty Industries a consensus “Moderate Buy,” with five Buy ratings, one Strong Buy and two Hold ratings. The average 12-month price target is $22.54.
• Price targets vary: Targets cited range from Goldman Sachs’ $13 Hold target to DA Davidson’s $33 Buy target; B. Riley also cut its target from $25 to $20 while maintaining a Buy rating.
• Shares rose 7.7% to $8.22 in Friday midday trading, though reports flagged a potential C$43 million legal claim and conflicting accounts of quarterly earnings.

Almonty Industries Inc. (NASDAQ:ALM - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the eight ratings firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $22.54.

Several analysts have issued reports on the stock. Weiss Ratings raised shares of Almonty Industries from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, September 25th. B. Riley Financial dropped their price objective on shares of Almonty Industries from $25.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, October 27th. The Goldman Sachs Group started coverage on shares of Almonty Industries in a research report on Thursday, September 24th. They set a "hold" rating and a $13.00 target price on the stock. Jefferies Financial Group initiated coverage on shares of Almonty Industries in a research note on Wednesday, September 2nd. They issued a "buy" rating and a $26.25 target price for the company. Finally, DA Davidson reaffirmed a "buy" rating and set a $33.00 price target on shares of Almonty Industries in a report on Tuesday, September 15th.

Hedge Funds Weigh In On Almonty Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fulcrum Asset Management LLP acquired a new stake in shares of Almonty Industries during the third quarter valued at about $32,000. Pin Oak Investment Advisors Inc. acquired a new position in shares of Almonty Industries in the second quarter worth about $53,000. Nykredit A S acquired a new position in shares of Almonty Industries in the second quarter worth about $58,000. Ashton Thomas Private Wealth LLC purchased a new position in Almonty Industries in the third quarter valued at about $146,000. Finally, Capstone Capital Management Ltd purchased a new position in Almonty Industries in the third quarter valued at about $159,000.

Almonty Industries News Summary

These are some of the ALM news items that stood out recently:

• Positive Sentiment: Stifel Nicolaus maintained a Buy rating and set a new $18 price target, which is substantially above the share price cited in the report. Stifel Nicolaus stock recommendations
• Neutral Sentiment: Analyst reports conflict on the earnings comparison: one says ALM’s $0.12 per share beat the $0.07 consensus, while Zacks says quarterly earnings were $0.03 and missed that estimate. Investors may want to review the company’s reported figures and the differing calculations. Almonty Industries Misses Q3 Earnings and Revenue Estimates
• Negative Sentiment: Stifel cut its target from $21 to $18, tempering the bullish signal even as it retained its Buy rating. Separately, a report flagged a potential C$43 million legal claim, which could pose financial and execution risk; details and outcome remain uncertain. Almonty's Sangdong Fixes Face a C$43 Million Test as a Canadian Claim Looms

Almonty Industries Stock Up 7.7%

Almonty Industries stock traded up $0.59 during midday trading on Friday, hitting $8.22. 7,922,883 shares of the company were exchanged, compared to its average volume of 6,454,793. The company's fifty day moving average price is $11.61 and its 200-day moving average price is $15.64. The company has a market cap of $2.37 billion, a PE ratio of 43.27 and a beta of 4.65. The company has a debt-to-equity ratio of 1.37, a current ratio of 9.58 and a quick ratio of 9.51. Almonty Industries has a fifty-two week low of $5.43 and a fifty-two week high of $24.41.

About Almonty Industries

Almonty Industries Inc. is a mining company focused on tungsten, a metal used in applications such as cutting tools, industrial machinery, electronics and defense. The company produces tungsten concentrate and develops and operates tungsten mining assets. Its portfolio includes the Panasqueira mine in Portugal and the Los Santos mine in Spain, as well as the Sangdong tungsten project in South Korea. Almonty's activities span Europe and Asia, with Sangdong representing a major project in the company's effort to expand tungsten supply outside China.

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