Almonty Industries (NASDAQ:ALM) Shares Up 11.3% – Time to Buy?

by · The Markets Daily

Almonty Industries Inc. (NASDAQ:ALM – Get Free Report) traded up 11.3% during trading on Monday . The stock traded as high as $20.63 and last traded at $20.47. 4,883,067 shares traded hands during trading, an increase of 6% from the average session volume of 4,625,917 shares. The stock had previously closed at $18.39.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of Almonty Industries from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Almonty Industries in a research report on Monday, December 29th. DA Davidson boosted their price target on Almonty Industries from $12.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Finally, B. Riley Financial boosted their target price on shares of Almonty Industries from $10.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.38.

Check Out Our Latest Research Report on ALM

Almonty Industries Stock Performance

The stock has a 50 day moving average of $12.06 and a 200 day moving average of $8.35. The company has a quick ratio of 2.25, a current ratio of 2.38 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $5.45 billion and a price-to-earnings ratio of -85.00.

Institutional Investors Weigh In On Almonty Industries

Large investors have recently modified their holdings of the company. Van ECK Associates Corp lifted its stake in Almonty Industries by 13,294.7% in the fourth quarter. Van ECK Associates Corp now owns 11,239,482 shares of the company’s stock valued at $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 4th quarter valued at $25,620,000. Next Century Growth Investors LLC acquired a new position in shares of Almonty Industries during the 4th quarter valued at $16,345,000. Telemark Asset Management LLC acquired a new position in shares of Almonty Industries during the 3rd quarter valued at $7,839,000. Finally, Alyeska Investment Group L.P. bought a new position in Almonty Industries during the third quarter worth $7,839,000.

About Almonty Industries

(Get Free Report)

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.

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