Almonty Industries Inc. (NASDAQ:ALM) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Almonty Industries Inc. (NASDAQ:ALM) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $19.8750.

Several research analysts recently commented on the company. DA Davidson reissued a “buy” rating and issued a $25.00 price objective on shares of Almonty Industries in a research note on Thursday, March 26th. Oppenheimer increased their price objective on Almonty Industries from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. B. Riley Financial upped their target price on Almonty Industries from $17.00 to $23.00 and gave the company a “buy” rating in a report on Friday, March 20th. Finally, Texas Capital upgraded Almonty Industries to a “strong-buy” rating in a report on Thursday, April 16th.

Almonty Industries Trading Down 1.6%

Shares of ALM stock opened at $18.28 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.45 and a quick ratio of 2.37. The company has a market cap of $5.22 billion and a price-to-earnings ratio of -36.56. The stock has a 50 day simple moving average of $19.54 and a 200-day simple moving average of $15.02. Almonty Industries has a 1-year low of $3.16 and a 1-year high of $24.41.

Almonty Industries (NASDAQ:ALM) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. Almonty Industries had a negative return on equity of 11.01% and a negative net margin of 262.29%.The firm had revenue of $18.52 million during the quarter, compared to the consensus estimate of $15.44 million. On average, equities research analysts expect that Almonty Industries will post 0.46 EPS for the current fiscal year.

Institutional Trading of Almonty Industries

Large investors have recently added to or reduced their stakes in the stock. Leonteq Securities AG purchased a new stake in Almonty Industries in the 1st quarter valued at $29,000. FNY Investment Advisers LLC purchased a new stake in Almonty Industries in the 3rd quarter valued at $30,000. Global Retirement Partners LLC purchased a new stake in Almonty Industries in the 4th quarter valued at $35,000. Rockefeller Capital Management L.P. grew its holdings in 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 buying an additional 1,000 shares in the last quarter. Finally, State of Wyoming purchased a new stake in Almonty Industries in the 4th quarter valued at $41,000.

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.