Almonty Industries (NASDAQ:ALM) Reaches New 12-Month High – Still a Buy?

Shares of Almonty Industries Inc. (NASDAQ:ALM) reached a new 52-week high during trading on Friday . The stock traded as high as $15.01 and last traded at $14.91, with a volume of 273030 shares changing hands. The stock had previously closed at $14.58.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ALM. B. Riley Financial upped their target price on Almonty Industries from $10.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, February 13th. DA Davidson upped their target price on shares of 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 raised shares of Almonty Industries from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Almonty Industries in a research report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.38.

Almonty Industries Stock Performance

The firm has a fifty day moving average price of $10.55. 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 company has a market cap of $3.80 billion and a price-to-earnings ratio of -62.87.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Huntleigh Advisors Inc. bought a new stake in shares of Almonty Industries in the third quarter valued at approximately $661,000. Old West Investment Management LLC acquired a new position in Almonty Industries during the 3rd quarter valued at $2,148,000. Baader Bank Aktiengesellschaft bought a new stake in Almonty Industries in the 3rd quarter valued at $580,000. BLB&B Advisors LLC bought a new stake in Almonty Industries in the 3rd quarter valued at $298,000. Finally, Verde Servicos Internacionais S.A. acquired a new stake in Almonty Industries in the 3rd quarter worth $422,000.

About Almonty Industries

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.