DA Davidson Issues Positive Forecast for Almonty Industries (NASDAQ:ALM) Stock Price

Key Points

• DA Davidson raised its price target on Almonty Industries from $25 to $33 and kept a buy rating, implying about 124% upside from the stock’s current price.
• Other analysts are mixed but generally positive: the stock now has a Moderate Buy consensus, with an average target price of $21.88 and one analyst still maintaining a sell rating.
• Almonty recently reported EPS of $0.01, matching estimates, while revenue of $18.52 million topped expectations; shares opened at $14.70 and were down 1.7% in the session.

Almonty Industries (NASDAQ:ALM - Get Free Report) had its target price hoisted by equities researchers at DA Davidson from $25.00 to $33.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. DA Davidson's price objective indicates a potential upside of 124.49% from the stock's current price.

Other equities research analysts have also issued research reports about the stock. Texas Capital raised shares of Almonty Industries to a "strong-buy" rating in a research report on Thursday, April 16th. Oppenheimer increased their target price on Almonty Industries from $22.00 to $25.00 and gave the company an "outperform" rating in a research note on Wednesday, June 3rd. B. Riley Financial raised their target price on Almonty Industries from $17.00 to $23.00 and gave the company a "buy" rating in a report on Friday, March 20th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Almonty Industries in a research report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $21.88.

Almonty Industries Stock Down 1.7%

Shares of NASDAQ:ALM opened at $14.70 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.37 and a current ratio of 2.45. Almonty Industries has a 1 year low of $3.16 and a 1 year high of $24.41. The stock has a market capitalization of $4.20 billion and a P/E ratio of -29.40. The stock has a 50-day simple moving average of $18.16 and a 200-day simple moving average of $16.06.

Almonty Industries (NASDAQ:ALM - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. The firm had revenue of $18.52 million for the quarter, compared to analyst estimates of $15.44 million. Almonty Industries had a negative net margin of 262.29% and a negative return on equity of 11.01%. Equities analysts forecast that Almonty Industries will post 0.46 earnings per share for the current year.

Institutional Trading of Almonty Industries

Hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. raised its holdings in 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 acquiring an additional 1,000 shares in the last quarter. Leonteq Securities AG acquired a new position in Almonty Industries during the 1st quarter worth $29,000. Serenus Wealth Advisors LLC increased its position in shares of Almonty Industries by 11.0% in the 4th quarter. Serenus Wealth Advisors LLC now owns 22,200 shares of the company's stock worth $196,000 after purchasing an additional 2,200 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of Almonty Industries in the 4th quarter worth about $35,000. Finally, MCF Advisors LLC increased its position in shares of Almonty Industries by 40.8% in the 4th quarter. MCF Advisors LLC now owns 14,084 shares of the company's stock worth $124,000 after purchasing an additional 4,084 shares during the last quarter.

Almonty Industries Company Profile

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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