Almonty Industries (NASDAQ:ALM) Stock Price Up 6% – What’s Next?

Almonty Industries Inc. (NASDAQ:ALM)’s share price traded up 6% during mid-day trading on Thursday . The stock traded as high as $17.28 and last traded at $17.15. Approximately 5,990,711 shares changed hands during mid-day trading, an increase of 6% from the average daily volume of 5,666,467 shares. The stock had previously closed at $16.18.

Analysts Set New Price Targets

Several research firms recently weighed in on ALM. DA Davidson lifted their target price on shares of Almonty Industries from $25.00 to $33.00 and gave the company a “buy” rating in a report on Friday, July 10th. Oppenheimer increased their price target on Almonty Industries from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Finally, Weiss Ratings raised Almonty Industries from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $27.00.

Almonty Industries Stock Up 6.6%

The company has a debt-to-equity ratio of 1.37, a current ratio of 9.58 and a quick ratio of 9.51. The stock has a market capitalization of $4.97 billion and a price-to-earnings ratio of 107.82. The firm’s fifty day moving average is $15.16 and its 200-day moving average is $16.94.

Institutional Investors Weigh In On Almonty Industries

A number of institutional investors have recently modified their holdings of the stock. Leonteq Securities AG acquired a new position in Almonty Industries in the first quarter worth about $29,000. Global Retirement Partners LLC acquired a new stake in Almonty Industries during the fourth quarter valued at approximately $35,000. Rockefeller Capital Management L.P. lifted its holdings in Almonty Industries by 30.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,333 shares of the company’s stock worth $38,000 after buying an additional 1,000 shares during the last quarter. State of Wyoming bought a new position in Almonty Industries during the 4th quarter worth approximately $41,000. Finally, Pin Oak Investment Advisors Inc. bought a new position in Almonty Industries during the 2nd quarter worth approximately $53,000.

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.