Almonty Industries (NASDAQ:ALM) Sets New 52-Week High – Here’s What Happened

Almonty Industries Inc. (NASDAQ:ALM) shares hit a new 52-week high on Tuesday . The company traded as high as $21.33 and last traded at $21.1880, with a volume of 1935979 shares traded. The stock had previously closed at $19.70.

Analyst Upgrades and Downgrades

ALM has been the topic of a number of recent research reports. DA Davidson set a $25.00 target price on shares of Almonty Industries in a report on Friday. Weiss Ratings reissued a “sell (e+)” rating on shares of Almonty Industries in a research note on Monday, December 29th. Finally, B. Riley Financial increased their target price on Almonty Industries from $10.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Almonty Industries has an average rating of “Moderate Buy” and an average price target of $15.13.

Almonty Industries Stock Performance

The company has a 50 day moving average of $12.85 and a 200 day moving average of $8.78. The company has a quick ratio of 2.25, a current ratio of 2.38 and a debt-to-equity ratio of 1.02. The firm has a market cap of $5.96 billion and a price-to-earnings ratio of -92.27.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Global Retirement Partners LLC bought a new position in Almonty Industries in the 4th quarter worth about $35,000. State of Wyoming bought a new position in Almonty Industries in the 4th quarter valued at about $41,000. FNY Investment Advisers LLC acquired a new stake in shares of Almonty Industries in the 3rd quarter worth approximately $30,000. Banque Cantonale Vaudoise acquired a new position in shares of Almonty Industries during the third quarter valued at approximately $54,000. Finally, Deutsche Bank AG acquired a new stake in Almonty Industries in the fourth quarter worth approximately $79,000.

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.