B. Riley Securities Forecasts Strong Price Appreciation for Almonty Industries (NASDAQ:ALM) Stock

Almonty Industries (NASDAQ:ALM) had its price objective increased by equities research analysts at B. Riley Securities from $10.00 to $17.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley Securities’ price objective points to a potential upside of 33.12% from the stock’s current price.

A number of other brokerages have also commented on ALM. Wall Street Zen upgraded Almonty Industries from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. DA Davidson raised their price target on shares of Almonty Industries from $12.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Almonty Industries in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $13.38.

Almonty Industries Price Performance

ALM stock opened at $12.77 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.38 and a quick ratio of 2.25. The company’s 50-day moving average price is $9.86. The company has a market capitalization of $3.36 billion and a PE ratio of -55.52. Almonty Industries has a 52-week low of $3.16 and a 52-week high of $14.91.

Institutional Investors Weigh In On Almonty Industries

A number of institutional investors have recently added to or reduced their stakes in ALM. FNY Investment Advisers LLC acquired a new position in shares of Almonty Industries in the 3rd quarter worth approximately $30,000. Global Retirement Partners LLC acquired a new stake in shares of Almonty Industries in the 4th quarter valued at $35,000. State of Wyoming bought a new stake in shares of Almonty Industries in the 4th quarter worth about $41,000. Banque Cantonale Vaudoise acquired a new stake in shares of Almonty Industries during the 3rd quarter worth about $54,000. Finally, MCF Advisors LLC bought a new position in Almonty Industries during the 3rd quarter valued at about $60,000.

About Almonty Industries

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.