Almonty Industries (NASDAQ:ALM) Given New $25.00 Price Target at Oppenheimer

Almonty Industries (NASDAQ:ALM) had its target price hoisted by stock analysts at Oppenheimer from $22.00 to $25.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s target price suggests a potential upside of 21.36% from the company’s current price.

Several other brokerages have also weighed in on ALM. DA Davidson reiterated a “buy” rating and set a $25.00 target price on shares of Almonty Industries in a research report on Thursday, March 26th. B. Riley Financial raised their price target on shares of Almonty Industries from $17.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Finally, Texas Capital raised Almonty Industries to a “strong-buy” rating in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Almonty Industries presently has a consensus rating of “Moderate Buy” and an average price target of $19.88.

Almonty Industries Stock Performance

ALM stock traded down $0.05 during midday trading on Wednesday, hitting $20.60. The stock had a trading volume of 835,376 shares, compared to its average volume of 5,144,695. The firm has a market capitalization of $5.85 billion and a price-to-earnings ratio of -41.20. Almonty Industries has a 52 week low of $3.16 and a 52 week high of $24.41. The stock has a 50-day simple moving average of $18.93 and a 200 day simple moving average of $14.03. The company has a current ratio of 2.45, a quick ratio of 2.37 and a debt-to-equity ratio of 0.30.

Almonty Industries (NASDAQ:ALM) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. Almonty Industries had a negative net margin of 262.29% and a negative return on equity of 11.01%. The firm had revenue of $18.52 million for the quarter, compared to analyst estimates of $15.44 million. As a group, equities research analysts anticipate that Almonty Industries will post 0.71 earnings per share for the current year.

Institutional Investors Weigh In On Almonty Industries

Large investors have recently made changes to their positions in the company. Marathon Capital Management bought a new stake in shares of Almonty Industries during the third quarter valued at approximately $1,509,000. First Eagle Investment Management LLC bought a new position in Almonty Industries in the 3rd quarter worth approximately $543,000. Telemark Asset Management LLC bought a new position in Almonty Industries in the 3rd quarter worth approximately $7,839,000. Old West Investment Management LLC acquired a new position in Almonty Industries during the 3rd quarter worth $2,148,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in Almonty Industries during the 3rd quarter worth $580,000.

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.