Almonty Industries Inc. (NASDAQ:ALM) Receives Average Recommendation of “Buy” from Brokerages

Almonty Industries Inc. (NASDAQ:ALM) has been given an average recommendation of “Buy” by the five analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $27.00.

Several brokerages have issued reports on ALM. DA Davidson boosted their target price 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 raised their target price on Almonty Industries from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Weiss Ratings upgraded Almonty Industries from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday. Finally, Texas Capital raised Almonty Industries to a “strong-buy” rating in a research report on Thursday, April 16th.

Hedge Funds Weigh In On Almonty Industries

A number of large investors have recently made changes to their positions in ALM. Banque Cantonale Vaudoise purchased a new stake in shares of Almonty Industries in the third quarter worth approximately $54,000. Van ECK Associates Corp purchased a new position in Almonty Industries during the third quarter valued at approximately $506,000. Mackenzie Financial Corp purchased a new position in Almonty Industries during the third quarter valued at approximately $422,000. Sei Investments Co. acquired a new position in Almonty Industries in the 3rd quarter valued at approximately $2,563,000. Finally, Boston Partners acquired a new position in Almonty Industries in the 3rd quarter valued at approximately $771,000.

Almonty Industries Stock Down 3.6%

ALM stock opened at $13.85 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.45 and a quick ratio of 2.37. The firm has a market capitalization of $3.99 billion and a P/E ratio of 86.57. Almonty Industries has a 52-week low of $3.97 and a 52-week high of $24.41. The company’s 50 day simple moving average is $15.17 and its 200-day simple moving average is $16.82.

Almonty Industries (NASDAQ:ALM) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. Almonty Industries had a net margin of 125.89% and a return on equity of 11.18%. The firm had revenue of $18.52 million during the quarter, compared to analyst estimates of $15.44 million. As a group, equities research analysts anticipate that Almonty Industries will post 0.46 EPS for the current year.

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.