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

Shares of Almonty Industries Inc. (NASDAQ:ALM) have received an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $19.8750.

Several brokerages have recently weighed in on ALM. Oppenheimer raised their target price on Almonty Industries from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. B. Riley Financial raised their price target on Almonty Industries from $17.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Texas Capital upgraded Almonty Industries to a “strong-buy” rating in a research note on Thursday, April 16th. Finally, DA Davidson reiterated a “buy” rating and issued a $25.00 target price on shares of Almonty Industries in a research note on Thursday, March 26th.

Almonty Industries Stock Performance

Shares of Almonty Industries stock opened at $18.28 on Thursday. The business has a 50-day moving average of $19.54 and a 200 day moving average of $15.02. Almonty Industries has a 12 month low of $3.16 and a 12 month high of $24.41. The stock has a market capitalization of $5.22 billion and a price-to-earnings ratio of -36.56. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.45 and a quick ratio of 2.37.

Almonty Industries (NASDAQ:ALM) last announced its earnings results on Monday, May 11th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. The company 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%. As a group, sell-side analysts forecast that Almonty Industries will post 0.46 earnings per share for the current year.

Institutional Trading of Almonty Industries

A number of institutional investors have recently modified their holdings of ALM. Marathon Capital Management purchased a new stake in Almonty Industries during the third quarter worth $1,509,000. First Eagle Investment Management LLC purchased a new stake in Almonty Industries during the third quarter worth $543,000. Telemark Asset Management LLC purchased a new stake in Almonty Industries during the third quarter worth $7,839,000. TD Asset Management Inc purchased a new stake in Almonty Industries during the third quarter worth $913,000. Finally, Benin Management CORP purchased a new stake in Almonty Industries during the fourth quarter worth $1,068,000.

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.