Almonty Industries (NASDAQ:ALM) Stock Price Target Lowered at Stifel Nicolaus

Almonty Industries (NASDAQ:ALM) had its target price lowered by investment analysts at Stifel Nicolaus from $21.00 to $18.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus‘s price objective suggests a potential upside of 135.91% from the company’s current price.

A number of other research analysts also recently issued reports on ALM. The Goldman Sachs Group assumed coverage on shares of Almonty Industries in a research note on Thursday, September 24th. They issued a “hold” rating and a $13.00 price target for the company. Jefferies Financial Group began coverage on shares of Almonty Industries in a research report on Wednesday, September 2nd. They issued a “buy” rating and a $26.25 price objective on the stock. DA Davidson restated a “buy” rating and issued a $33.00 price objective on shares of Almonty Industries in a report on Tuesday, September 15th. B. Riley Financial decreased their price objective on shares of Almonty Industries from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, October 27th. Finally, Weiss Ratings upgraded shares of Almonty Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.54.

Almonty Industries Stock Down 6.5%

ALM stock opened at $7.63 on Friday. The company’s 50 day moving average price is $11.80 and its 200 day moving average price is $15.65. 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 fifty-two week low of $5.43 and a fifty-two week high of $24.41. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 47.69 and a beta of 4.65.

Institutional Trading of Almonty Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fulcrum Asset Management LLP acquired a new stake in Almonty Industries during the third quarter worth approximately $32,000. Alps Advisors Inc. lifted its position in shares of Almonty Industries by 2.7% during the 3rd quarter. Alps Advisors Inc. now owns 102,669 shares of the company’s stock worth $1,351,000 after buying an additional 2,659 shares during the last quarter. Pin Oak Investment Advisors Inc. acquired a new position in shares of Almonty Industries in the 2nd quarter valued at $53,000. Nykredit A S acquired a new position in shares of Almonty Industries in the 2nd quarter valued at $58,000. Finally, Royal Bank of Canada boosted its holdings in shares of Almonty Industries by 6.1% in the 1st quarter. Royal Bank of Canada now owns 74,732 shares of the company’s stock valued at $1,082,000 after buying an additional 4,280 shares in the last quarter.

Almonty Industries Company Profile

Almonty Industries Inc. is a mining company focused on tungsten, a metal used in applications such as cutting tools, industrial machinery, electronics and defense. The company produces tungsten concentrate and develops and operates tungsten mining assets. Its portfolio includes the Panasqueira mine in Portugal and the Los Santos mine in Spain, as well as the Sangdong tungsten project in South Korea. Almonty’s activities span Europe and Asia, with Sangdong representing a major project in the company’s effort to expand tungsten supply outside China.