Almonty Industries (NASDAQ:ALM) Stock Price Target Lowered at Stifel Nicolaus

Almonty Industries (NASDAQ:ALM) had its target price decreased by equities research analysts at Stifel Nicolaus from $21.00 to $18.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus‘s price target would indicate a potential upside of 135.91% from the stock’s current price.

ALM has been the topic of a number of other research reports. DA Davidson reissued a “buy” rating and issued a $33.00 target price on shares of Almonty Industries in a research report on Tuesday, September 15th. B. Riley Financial lowered their price target on Almonty Industries from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, October 27th. Jefferies Financial Group started coverage on Almonty Industries in a research note on Wednesday, September 2nd. They issued a “buy” rating and a $26.25 price objective for the company. The Goldman Sachs Group started coverage on Almonty Industries in a report on Thursday, September 24th. They issued a “hold” rating and a $13.00 price objective on the stock. Finally, Weiss Ratings raised Almonty Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.54.

Almonty Industries Stock Performance

NASDAQ:ALM opened at $7.63 on Friday. 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 stock has a market capitalization of $2.20 billion, a P/E ratio of 47.69 and a beta of 4.65. The company has a 50 day moving average price of $11.80 and a 200 day moving average price of $15.65. Almonty Industries has a fifty-two week low of $5.43 and a fifty-two week high of $24.41.

Institutional Investors Weigh In On Almonty Industries

Several large investors have recently added to or reduced their stakes in ALM. Fulcrum Asset Management LLP purchased a new position in Almonty Industries in the 3rd quarter valued at approximately $32,000. Alps Advisors Inc. grew its stake in shares of Almonty Industries by 2.7% in the third quarter. Alps Advisors Inc. now owns 102,669 shares of the company’s stock worth $1,351,000 after acquiring an additional 2,659 shares in the last quarter. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Almonty Industries during the second quarter worth $53,000. Nykredit A S purchased a new stake in shares of Almonty Industries during the second quarter worth $58,000. Finally, Royal Bank of Canada increased its position 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 acquiring an additional 4,280 shares during the period.

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.