Almonty Industries (NASDAQ:ALM) Trading 6.9% Higher – Time to Buy?

Shares of Almonty Industries Inc. (NASDAQ:ALM) traded up 6.9% during mid-day trading on Monday . The company traded as high as $18.55 and last traded at $19.1130. 778,958 shares traded hands during trading, a decline of 85% from the average session volume of 5,326,591 shares. The stock had previously closed at $17.88.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Almonty Industries in a report on Monday, December 29th. DA Davidson reiterated a “buy” rating and issued a $25.00 target price on shares of Almonty Industries in a research note on Thursday, March 26th. B. Riley Financial increased their target price on shares of Almonty Industries from $17.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Finally, Oppenheimer increased their target price on shares of Almonty Industries from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, March 20th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.38.

Almonty Industries Trading Up 11.5%

The company has a market cap of $5.64 billion and a price-to-earnings ratio of -34.33. The company’s fifty day moving average price is $16.37 and its two-hundred day moving average price is $10.88. The company has a quick ratio of 3.76, a current ratio of 3.89 and a debt-to-equity ratio of 0.38.

Institutional Trading of Almonty Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FNY Investment Advisers LLC bought a new position in Almonty Industries in the third quarter valued at approximately $30,000. Global Retirement Partners LLC bought a new position in shares of Almonty Industries during the fourth quarter worth $35,000. Rockefeller Capital Management L.P. boosted its position in shares of Almonty Industries by 30.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,333 shares of the company’s stock worth $38,000 after purchasing an additional 1,000 shares in the last quarter. State of Wyoming bought a new position in shares of Almonty Industries during the fourth quarter worth $41,000. Finally, Banque Cantonale Vaudoise bought a new position in shares of Almonty Industries during the third quarter worth $54,000.

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.