Almonty Industries (NASDAQ:ALM) Given “Buy” Rating at DA Davidson

by · The Markets Daily

Almonty Industries (NASDAQ:ALM – Get Free Report)‘s stock had its “buy” rating restated by stock analysts at DA Davidson in a report released on Tuesday, Benzinga reports. They presently have a $33.00 price target on the stock. DA Davidson’s price target would indicate a potential upside of 118.54% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Almonty Industries in a research report on Wednesday, September 2nd. They set a “buy” rating and a $26.25 price objective for the company. Weiss Ratings upgraded Almonty Industries from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. Finally, Oppenheimer lifted their price target on Almonty Industries from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Almonty Industries has an average rating of “Buy” and a consensus target price of $26.81.

Check Out Our Latest Stock Analysis on Almonty Industries

Almonty Industries Price Performance

Shares of NASDAQ ALM opened at $15.10 on Tuesday. The stock’s 50-day moving average is $15.35 and its two-hundred day moving average is $17.43. The company has a market cap of $4.35 billion, a price-to-earnings ratio of 93.29 and a beta of 3.75. Almonty Industries has a 1-year low of $4.72 and a 1-year high of $24.41. The company has a debt-to-equity ratio of 1.37, a current ratio of 9.58 and a quick ratio of 9.51.

Institutional Trading of Almonty Industries

Several institutional investors have recently modified their holdings of ALM. Encompass Capital Advisors LLC boosted its holdings in shares of Almonty Industries by 47.9% in the 1st quarter. Encompass Capital Advisors LLC now owns 4,300,839 shares of the company’s stock valued at $62,276,000 after buying an additional 1,392,806 shares in the last quarter. Bank of America Corp DE raised its stake in Almonty Industries by 309.6% during the 1st quarter. Bank of America Corp DE now owns 908,911 shares of the company’s stock worth $13,161,000 after acquiring an additional 686,982 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Almonty Industries during the 2nd quarter worth $7,118,000. Public Employees Retirement System of Ohio purchased a new stake in Almonty Industries in the second quarter valued at $1,806,000. Finally, Cooper Creek Partners Management LLC lifted its position in 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 valued at $69,235,000 after acquiring an additional 2,508,478 shares during the last quarter.

About Almonty Industries

(Get Free Report)

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.

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