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

DA Davidson reaffirmed their buy rating on shares of Almonty Industries (NASDAQ:ALM) in a research note published on Tuesday morning,Benzinga reports. They currently have a $33.00 price target on the stock.

Several other brokerages have also issued reports on ALM. Oppenheimer boosted their price target on Almonty Industries from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. Jefferies Financial Group initiated coverage on Almonty Industries in a report on Wednesday, September 2nd. They issued a “buy” rating and a $26.25 price target for the company. Finally, Weiss Ratings upgraded Almonty Industries from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Wednesday, August 12th. One 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, Almonty Industries has an average rating of “Buy” and a consensus target price of $26.81.

Almonty Industries Stock Up 4.9%

Shares of ALM opened at $14.13 on Tuesday. The company has a 50-day simple moving average of $15.28 and a 200-day simple moving average of $17.35. The firm has a market capitalization of $4.07 billion, a P/E ratio of 88.32 and a beta of 3.75. The company has a debt-to-equity ratio of 1.37, a quick ratio of 9.51 and a current ratio of 9.58. Almonty Industries has a 52 week low of $4.76 and a 52 week high of $24.41.

Hedge Funds Weigh In On Almonty Industries

A number of hedge funds have recently made changes to their positions in the business. Leonteq Securities AG bought a new position in shares of Almonty Industries during the 1st quarter worth about $29,000. Pin Oak Investment Advisors Inc. bought a new stake in Almonty Industries in the second quarter valued at about $53,000. Nykredit A S bought a new stake in Almonty Industries in the second quarter valued at about $58,000. Rockefeller Capital Management L.P. raised its position in Almonty Industries by 30.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,333 shares of the company’s stock worth $38,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Saxon Interests Inc. acquired a new position in Almonty Industries in the first quarter worth about $161,000.

About Almonty Industries

Almonty Industries Inc is a mining and development company focused primarily on tungsten, a specialty metal used in industrial, technology, energy, automotive, aerospace and defense applications. The company’s activities include the exploration, development, operation and redevelopment of tungsten-mining projects, as well as the production of tungsten concentrates.

Almonty’s principal assets include the Sangdong Tungsten Project in South Korea, one of the company’s key development projects, and the Panasqueira tungsten mine in Portugal, a producing operation with a long operating history.