Almonty Industries’ (ALM) “Buy” Rating Reiterated at DA Davidson

DA Davidson reiterated their buy rating on shares of Almonty Industries (NASDAQ:ALM) in a research note issued to investors on Friday,Benzinga reports. DA Davidson currently has a $12.00 price target on the stock.

Several other brokerages have also issued reports on ALM. Weiss Ratings reiterated a “sell (d-)” rating on shares of Almonty Industries in a research note on Monday, December 15th. Oppenheimer raised their target price on shares of Almonty Industries from $7.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. Finally, Wall Street Zen upgraded shares of Almonty Industries from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.17.

Almonty Industries Trading Up 1.3%

ALM opened at $8.46 on Friday. The business has a fifty day moving average price of $7.16. The company has a debt-to-equity ratio of 16.37, a quick ratio of 0.63 and a current ratio of 0.77. The company has a market capitalization of $2.15 billion and a P/E ratio of -36.78. Almonty Industries has a 12-month low of $3.16 and a 12-month high of $10.68.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ALM. First Eagle Investment Management LLC bought a new position in Almonty Industries in the 3rd quarter valued at approximately $543,000. PNC Financial Services Group Inc. purchased a new position in shares of Almonty Industries in the third quarter worth $157,000. Fifth Lane Capital LP purchased a new position in shares of Almonty Industries in the third quarter worth $75,000. Telemark Asset Management LLC bought a new position in shares of Almonty Industries during the third quarter valued at $7,839,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Almonty Industries during the third quarter valued at $66,000.

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.