Almonty Industries Inc. (NASDAQ:ALM) Stock Rated “Moderate Buy” by Sell-Side Analysts

Almonty Industries Inc. (NASDAQ:ALM) has been given a consensus recommendation of “Moderate Buy” by the eight analysts that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $22.54.

Several analysts recently issued reports on the stock. DA Davidson reaffirmed a “buy” rating and issued a $33.00 price target on shares of Almonty Industries in a report on Tuesday, September 15th. B. Riley Financial decreased their price objective on shares of Almonty Industries from $25.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, October 27th. The Goldman Sachs Group began coverage on shares of Almonty Industries in a report on Thursday, September 24th. They set a “hold” rating and a $13.00 price objective for the company. Jefferies Financial Group started coverage on shares of Almonty Industries in a research report on Wednesday, September 2nd. They issued a “buy” rating and a $26.25 target price for the company. Finally, Stifel Nicolaus cut their target price on shares of Almonty Industries from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday.

Almonty Industries Stock Up 7.7%

Shares of ALM stock traded up $0.59 during mid-day trading on Friday, reaching $8.22. 7,922,883 shares of the company were exchanged, compared to its average volume of 6,454,793. The company has a debt-to-equity ratio of 1.37, a quick ratio of 9.51 and a current ratio of 9.58. The business’s 50 day simple moving average is $11.61 and its 200 day simple moving average is $15.64. The company has a market capitalization of $2.37 billion, a P/E ratio of 43.27 and a beta of 4.65. Almonty Industries has a fifty-two week low of $5.43 and a fifty-two week high of $24.41.

Key Almonty Industries News

Investors following ALM have been watching these news items:

• Positive Sentiment: Stifel Nicolaus maintained a Buy rating and set a new $18 price target, which is substantially above the share price cited in the report. Stifel Nicolaus stock recommendations
• Neutral Sentiment: Analyst reports conflict on the earnings comparison: one says ALM’s $0.12 per share beat the $0.07 consensus, while Zacks says quarterly earnings were $0.03 and missed that estimate. Investors may want to review the company’s reported figures and the differing calculations. Almonty Industries Misses Q3 Earnings and Revenue Estimates
• Negative Sentiment: Stifel cut its target from $21 to $18, tempering the bullish signal even as it retained its Buy rating. Separately, a report flagged a potential C$43 million legal claim, which could pose financial and execution risk; details and outcome remain uncertain. Almonty’s Sangdong Fixes Face a C$43 Million Test as a Canadian Claim Looms

Hedge Funds Weigh In On Almonty Industries

A number of hedge funds have recently bought and sold shares of ALM. Fulcrum Asset Management LLP bought a new stake in Almonty Industries in the third quarter valued at about $32,000. Pin Oak Investment Advisors Inc. acquired a new stake in Almonty Industries during the second quarter valued at approximately $53,000. Nykredit A S acquired a new stake in Almonty Industries during the second quarter valued at approximately $58,000. Ashton Thomas Private Wealth LLC bought a new position in Almonty Industries during the 3rd quarter worth approximately $146,000. Finally, Capstone Capital Management Ltd bought a new position in Almonty Industries during the 3rd quarter worth approximately $159,000.

Almonty Industries Company Profile

Almonty Industries Inc. is a mining company focused on tungsten, a metal used in applications such as cutting tools, industrial machinery, electronics and defense. The company produces tungsten concentrate and develops and operates tungsten mining assets. Its portfolio includes the Panasqueira mine in Portugal and the Los Santos mine in Spain, as well as the Sangdong tungsten project in South Korea. Almonty’s activities span Europe and Asia, with Sangdong representing a major project in the company’s effort to expand tungsten supply outside China.