Almonty Industries (NASDAQ:ALM) Earns Buy Rating from Analysts at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Almonty Industries (NASDAQ:ALM) in a report released on Wednesday, MarketBeat reports. The brokerage issued a buy rating and a $26.25 price objective on the stock.

A number of other research firms also recently weighed in on ALM. DA Davidson raised their price target on shares of Almonty Industries from $25.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Oppenheimer increased their price objective on shares of Almonty Industries from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. Finally, Weiss Ratings upgraded shares of Almonty Industries from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $26.81.

Almonty Industries Stock Performance

Almonty Industries stock opened at $17.57 on Wednesday. The company has a quick ratio of 9.51, a current ratio of 9.58 and a debt-to-equity ratio of 1.37. The stock has a market cap of $5.06 billion, a PE ratio of 109.82 and a beta of 3.75. Almonty Industries has a 12-month low of $4.10 and a 12-month high of $24.41. The business’s 50-day moving average price is $15.24 and its two-hundred day moving average price is $17.32.

Hedge Funds Weigh In On Almonty Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALM. Van ECK Associates Corp lifted its holdings in shares of Almonty Industries by 13,294.7% during the fourth quarter. Van ECK Associates Corp now owns 11,239,482 shares of the company’s stock worth $99,013,000 after purchasing an additional 11,155,572 shares during the period. Encompass Capital Advisors LLC acquired a new stake in Almonty Industries in the fourth quarter valued at $25,620,000. Cooper Creek Partners Management LLC raised its position in Almonty Industries by 110.4% during the 1st quarter. Cooper Creek Partners Management LLC now owns 4,781,415 shares of the company’s stock worth $69,235,000 after purchasing an additional 2,508,478 shares during the last quarter. Next Century Growth Investors LLC bought a new position in Almonty Industries during the 4th quarter worth $16,345,000. Finally, Ghisallo Capital Management LLC acquired a new position in Almonty Industries during the 4th quarter worth about $11,453,000.

Almonty Industries Company Profile

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.