Almonty Industries (NASDAQ:ALM) Earns Buy Rating from DA Davidson

Almonty Industries (NASDAQ:ALM)‘s stock had its “buy” rating reiterated by equities research analysts at DA Davidson in a research note issued to investors on Friday,Benzinga reports. They presently have a $25.00 target price on the stock. DA Davidson’s target price indicates a potential upside of 48.89% from the stock’s current price.

A number of other analysts also recently issued reports on the company. B. Riley Financial raised their price target on Almonty Industries from $10.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Weiss Ratings reissued 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 assigned a Sell rating to the company. According to MarketBeat, Almonty Industries has a consensus rating of “Moderate Buy” and a consensus target price of $16.88.

Almonty Industries Stock Performance

Almonty Industries stock traded down $0.39 during midday trading on Friday, hitting $16.79. The stock had a trading volume of 1,600,776 shares, compared to its average volume of 5,106,032. Almonty Industries has a 52-week low of $3.16 and a 52-week high of $22.55. The company has a market capitalization of $4.71 billion and a PE ratio of -73.00. The firm’s fifty day moving average is $14.52 and its two-hundred day moving average is $9.56. The company has a current ratio of 2.38, a quick ratio of 2.25 and a debt-to-equity ratio of 1.02.

Institutional Trading of Almonty Industries

A number of hedge funds have recently bought and sold shares of ALM. FNY Investment Advisers LLC acquired a new stake in Almonty Industries in the third quarter worth about $30,000. Global Retirement Partners LLC acquired a new position in shares of Almonty Industries during the fourth quarter valued at about $35,000. Rockefeller Capital Management L.P. raised its position in shares of Almonty Industries by 30.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,333 shares of the company’s stock valued at $38,000 after purchasing an additional 1,000 shares during the last quarter. State of Wyoming purchased a new position in shares of Almonty Industries in the 4th quarter valued at approximately $41,000. Finally, Banque Cantonale Vaudoise acquired a new stake in Almonty Industries in the 3rd quarter worth approximately $54,000.

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.