DA Davidson Issues Positive Forecast for Almonty Industries (NASDAQ:ALM) Stock Price

Almonty Industries (NASDAQ:ALM) had its price target lifted by DA Davidson from $25.00 to $33.00 in a research note issued to investors on Friday, MarketBeat reports. The firm currently has a buy rating on the stock.

ALM has been the topic of a number of other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Almonty Industries in a research report on Thursday, June 18th. Texas Capital upgraded Almonty Industries to a “strong-buy” rating in a research report on Thursday, April 16th. Oppenheimer lifted their price target on Almonty Industries from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. Finally, B. Riley Financial boosted their price objective on shares of Almonty Industries from $17.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.88.

Almonty Industries Price Performance

Almonty Industries stock traded up $1.91 during mid-day trading on Friday, reaching $16.61. The company had a trading volume of 8,850,074 shares, compared to its average volume of 5,348,491. Almonty Industries has a 1 year low of $3.16 and a 1 year high of $24.41. 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 capitalization of $4.74 billion and a P/E ratio of -33.22. The stock’s 50-day simple moving average is $18.10 and its 200-day simple moving average is $16.07.

Almonty Industries (NASDAQ:ALM) last released its quarterly earnings results on Monday, May 11th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. Almonty Industries had a negative return on equity of 11.01% and a negative net margin of 262.29%.The business had revenue of $18.52 million for the quarter, compared to analysts’ expectations of $15.44 million. On average, equities analysts predict that Almonty Industries will post 0.46 EPS for the current year.

Institutional Investors Weigh In On Almonty Industries

A number of large investors have recently bought and sold shares of the stock. Van ECK Associates Corp increased its position in Almonty Industries by 13,294.7% during the fourth quarter. Van ECK Associates Corp now owns 11,239,482 shares of the company’s stock worth $99,013,000 after buying an additional 11,155,572 shares in the last quarter. Encompass Capital Advisors LLC acquired a new stake in shares of Almonty Industries during the fourth quarter valued at $25,620,000. Cooper Creek Partners Management LLC boosted its stake in shares of Almonty Industries by 110.4% during the first quarter. Cooper Creek Partners Management LLC now owns 4,781,415 shares of the company’s stock valued at $69,235,000 after acquiring an additional 2,508,478 shares during the last quarter. Next Century Growth Investors LLC purchased a new stake in Almonty Industries during the 4th quarter worth about $16,345,000. Finally, Alyeska Investment Group L.P. purchased a new stake in Almonty Industries during the 3rd quarter worth about $7,839,000.

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.