Almonty Industries Inc. (NASDAQ:ALM) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Almonty Industries Inc. (NASDAQ:ALM) have received an average rating of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $21.8750.

A number of equities research analysts have weighed in on the company. Oppenheimer boosted 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. Texas Capital upgraded shares of Almonty Industries to a “strong-buy” rating in a research report on Thursday, April 16th. 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. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Almonty Industries in a research report on Thursday, June 18th.

Almonty Industries Stock Up 0.8%

Almonty Industries stock opened at $13.42 on Friday. Almonty Industries has a fifty-two week low of $3.88 and a fifty-two week high of $24.41. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.37 and a current ratio of 2.45. The company has a market capitalization of $3.87 billion and a P/E ratio of -26.84. The stock has a 50-day simple moving average of $15.79 and a 200-day simple moving average of $16.69.

Almonty Industries (NASDAQ:ALM) last announced its earnings results on Monday, May 11th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The firm had revenue of $18.52 million during the quarter, compared to analysts’ expectations of $15.44 million. Almonty Industries had a negative return on equity of 11.01% and a negative net margin of 262.29%. Equities research analysts expect that Almonty Industries will post 0.46 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp acquired a new position in Almonty Industries in the second quarter valued at $7,118,000. Bank of America Corp DE boosted its stake in shares of Almonty Industries by 309.6% during the first quarter. Bank of America Corp DE now owns 908,911 shares of the company’s stock worth $13,161,000 after buying an additional 686,982 shares during the period. Guardian Partners Inc. acquired a new stake in shares of Almonty Industries during the first quarter worth about $434,000. Royal Bank of Canada grew its holdings in shares of Almonty Industries by 6.1% during the first quarter. Royal Bank of Canada now owns 74,732 shares of the company’s stock worth $1,082,000 after buying an additional 4,280 shares during the last quarter. Finally, Encompass Capital Advisors LLC grew its holdings in shares of Almonty Industries by 47.9% during the first quarter. Encompass Capital Advisors LLC now owns 4,300,839 shares of the company’s stock worth $62,276,000 after buying an additional 1,392,806 shares during the last quarter.

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.