Almonty Industries (NASDAQ:ALM) Research Coverage Started at The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of Almonty Industries (NASDAQ:ALM) in a research note released on Thursday, Marketbeat Ratings reports. The brokerage issued a hold rating and a $13.00 target price on the stock.

ALM has been the subject of a number of other research reports. Weiss Ratings upgraded shares of Almonty Industries from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. DA Davidson restated a “buy” rating and set a $33.00 price target on shares of Almonty Industries in a research report on Tuesday, September 15th. Jefferies Financial Group began coverage on Almonty Industries in a report on Wednesday, September 2nd. They set a “buy” rating and a $26.25 price target for the company. Finally, Oppenheimer lifted their price objective on Almonty Industries from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.21.

Almonty Industries Price Performance

NASDAQ:ALM opened at $13.72 on Thursday. 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 firm has a market cap of $3.95 billion, a PE ratio of 85.76 and a beta of 3.75. Almonty Industries has a 12 month low of $5.43 and a 12 month high of $24.41. The company’s 50-day moving average price is $15.17 and its two-hundred day moving average price is $17.13.

Hedge Funds Weigh In On Almonty Industries

A number of institutional investors have recently modified their holdings of ALM. Encompass Capital Advisors LLC grew its stake in shares of Almonty Industries by 47.9% during the first quarter. Encompass Capital Advisors LLC now owns 4,300,839 shares of the company’s stock valued at $62,276,000 after purchasing an additional 1,392,806 shares during the last quarter. Bank of America Corp DE raised its position in Almonty Industries by 309.6% in the 1st quarter. Bank of America Corp DE now owns 908,911 shares of the company’s stock worth $13,161,000 after purchasing an additional 686,982 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Almonty Industries in the 2nd quarter worth approximately $7,118,000. Public Employees Retirement System of Ohio acquired a new position in Almonty Industries during the 2nd quarter worth $1,806,000. Finally, Cooper Creek Partners Management LLC lifted its holdings 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 buying an additional 2,508,478 shares in the last quarter.

Trending Headlines about Almonty Industries

Here are the key news stories impacting Almonty Industries this week:

• Positive Sentiment: Stifel initiated coverage with a Buy rating and a $25 price target, implying substantial upside from recent trading levels. The firm cited Almonty’s Western tungsten expansion and potential production growth. Stifel starts Almonty with $25 price target on Western tungsten expansion
• Positive Sentiment: Certification of Almonty’s Korean plant is supporting the bullish case by advancing the facility toward commercial operations. Investors are also focused on a Rwanda partnership and a Spanish offtake agreement, which could broaden the company’s tungsten supply and sales network. Almonty’s Dual Momentum
• Positive Sentiment: The board’s reported backing of a $300 million share buyback could provide support for the stock, signal confidence in intrinsic value and reduce the number of shares outstanding if implemented. Almonty’s Board Backs $300 Million Buyback
• Positive Sentiment: Coverage highlighting Almonty as a potential breakout stock reflects investor interest in rising tungsten demand and the company’s three-continent development strategy. Is Almonty Industries the Next Big Breakout Stock?
• Neutral Sentiment: Short-interest data showed no reported short position as of September 24, leaving little evidence of an imminent short squeeze but also indicating limited bearish positioning.
• Neutral Sentiment: Goldman Sachs initiated coverage with a Hold rating and a $13 price target, contrasting with Stifel’s bullish view and suggesting the stock may already reflect much of its near-term potential. Almonty Industries Receives a Hold from Goldman Sachs
• Negative Sentiment: Shares recently fell as Sangdong entered its sales phase, suggesting a possible “sell-the-news” reaction or concerns about execution, ramp-up timing and the company’s elevated valuation. Almonty Industries stock falls as Sangdong enters sales phase

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.