Oppenheimer Boosts Almonty Industries (NASDAQ:ALM) Price Target to $25.00

Almonty Industries (NASDAQ:ALM) had its price target hoisted by stock analysts at Oppenheimer from $22.00 to $25.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target points to a potential upside of 21.36% from the company’s previous close.

ALM has been the subject of several other reports. DA Davidson reiterated a “buy” rating and issued a $25.00 target price on shares of Almonty Industries in a report on Thursday, March 26th. Texas Capital upgraded shares of Almonty Industries to a “strong-buy” rating in a report on Thursday, April 16th. Finally, B. Riley Financial upped their price target on shares of Almonty Industries from $17.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $19.88.

Almonty Industries Stock Performance

Almonty Industries stock traded down $0.05 during mid-day trading on Wednesday, hitting $20.60. 835,376 shares of the company’s stock traded hands, compared to its average volume of 5,144,695. The company has a quick ratio of 2.37, a current ratio of 2.45 and a debt-to-equity ratio of 0.30. Almonty Industries has a one year low of $3.16 and a one year high of $24.41. The firm has a 50 day moving average price of $18.93 and a 200 day moving average price of $14.03. The company has a market cap of $5.85 billion and a PE ratio of -41.20.

Almonty Industries (NASDAQ:ALM) last released its quarterly earnings results on Monday, May 11th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. Almonty Industries had a negative net margin of 262.29% and a negative return on equity of 11.01%. The company had revenue of $18.52 million for the quarter, compared to the consensus estimate of $15.44 million. On average, equities analysts forecast that Almonty Industries will post 0.71 EPS for the current year.

Institutional Investors Weigh In On Almonty Industries

Several institutional investors and hedge funds have recently modified their holdings of ALM. Van ECK Associates Corp increased its position in Almonty Industries by 13,294.7% in the 4th quarter. Van ECK Associates Corp now owns 11,239,482 shares of the company’s stock worth $99,013,000 after buying an additional 11,155,572 shares during the period. Encompass Capital Advisors LLC bought a new stake in shares of Almonty Industries in the fourth quarter valued at approximately $25,620,000. Cooper Creek Partners Management LLC grew its stake in shares of Almonty Industries by 110.4% in the first quarter. Cooper Creek Partners Management LLC now owns 4,781,415 shares of the company’s stock worth $69,235,000 after acquiring an additional 2,508,478 shares during the last quarter. Next Century Growth Investors LLC acquired a new stake in shares of Almonty Industries in the fourth quarter worth $16,345,000. Finally, Telemark Asset Management LLC bought a new position in Almonty Industries during the third quarter worth $7,839,000.

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.