Almonty Industries (NASDAQ:ALM) Hits New 12-Month High – What’s Next?

Almonty Industries Inc. (NASDAQ:ALM)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $17.31 and last traded at $16.70, with a volume of 3073381 shares. The stock had previously closed at $16.58.

Wall Street Analyst Weigh In

ALM has been the topic of several recent research reports. DA Davidson raised their price objective on Almonty Industries from $12.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Wall Street Zen upgraded Almonty Industries from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. B. Riley Financial lifted their price target on Almonty Industries from $10.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Almonty Industries in a research note on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $13.38.

Almonty Industries Price Performance

The company has a market cap of $4.65 billion and a price-to-earnings ratio of -72.61. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.38 and a quick ratio of 2.25. The stock’s fifty day simple moving average is $11.22.

Hedge Funds Weigh In On Almonty Industries

Hedge funds have recently made changes to their positions in the stock. Huntleigh Advisors Inc. acquired a new position in shares of Almonty Industries in the third quarter worth approximately $661,000. BLB&B Advisors LLC bought a new position in Almonty Industries during the 3rd quarter worth approximately $298,000. General American Investors Co. Inc. bought a new position in Almonty Industries during the 3rd quarter worth approximately $246,000. Old West Investment Management LLC acquired a new position in shares of Almonty Industries in the 3rd quarter worth approximately $2,148,000. Finally, MCF Advisors LLC acquired a new position in shares of Almonty Industries in the 3rd quarter worth approximately $60,000.

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.