Almonty Industries (NASDAQ:ALM) Given New $19.00 Price Target at Oppenheimer

Almonty Industries (NASDAQ:ALM) had its target price upped by stock analysts at Oppenheimer from $16.00 to $19.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective suggests a potential upside of 13.16% from the company’s previous close.

Several other equities research analysts have also recently commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Almonty Industries in a research report on Monday, December 29th. B. Riley Financial boosted their target price on Almonty Industries from $10.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Finally, DA Davidson restated a “buy” rating and set a $25.00 target price on shares of Almonty Industries in a research note on Friday. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.88.

Almonty Industries Stock Down 2.3%

Shares of Almonty Industries stock traded down $0.39 on Friday, reaching $16.79. The company’s stock had a trading volume of 1,600,776 shares, compared to its average volume of 5,106,032. Almonty Industries has a 52 week low of $3.16 and a 52 week high of $22.55. The firm’s fifty day simple moving average is $14.52 and its two-hundred day simple moving average is $9.56. The company has a quick ratio of 2.25, a current ratio of 2.38 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $4.71 billion and a price-to-earnings ratio of -73.00.

Hedge Funds Weigh In On Almonty Industries

A number of institutional investors and hedge funds have recently modified their holdings of the company. Rockefeller Capital Management L.P. lifted its position in Almonty Industries by 30.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,333 shares of the company’s stock valued at $38,000 after purchasing an additional 1,000 shares in the last quarter. Serenus Wealth Advisors LLC increased its position in Almonty Industries by 11.0% in the fourth quarter. Serenus Wealth Advisors LLC now owns 22,200 shares of the company’s stock worth $196,000 after buying an additional 2,200 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in Almonty Industries in the fourth quarter worth about $35,000. MCF Advisors LLC raised its stake in shares of Almonty Industries by 40.8% in the fourth quarter. MCF Advisors LLC now owns 14,084 shares of the company’s stock worth $124,000 after buying an additional 4,084 shares during the period. Finally, State of Wyoming purchased a new position in shares of Almonty Industries during the 4th quarter valued at about $41,000.

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.