Almonty Industries Inc. (NASDAQ:ALM) Stock Has Consensus Price Target of $23.54

Almonty Industries Inc. (NASDAQ:ALM) has been given a consensus rating of “Moderate Buy” by the eight research firms that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $23.04.

A number of equities research analysts recently commented on the stock. Weiss Ratings raised shares of Almonty Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 25th. DA Davidson reissued a “buy” rating and issued a $33.00 price objective on shares of Almonty Industries in a research report on Tuesday, September 15th. Jefferies Financial Group assumed coverage on Almonty Industries in a research note on Wednesday, September 2nd. They set a “buy” rating and a $26.25 target price on the stock. The Goldman Sachs Group started coverage on Almonty Industries in a research note on Thursday, September 24th. They set a “hold” rating and a $13.00 target price on the stock. Finally, B. Riley Financial dropped their price target on Almonty Industries from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday.

Institutional Trading of Almonty Industries

Large investors have recently bought and sold shares of the stock. Capstone Capital Management Ltd purchased a new stake in shares of Almonty Industries during the third quarter valued at $159,000. Nykredit A S purchased a new position in shares of Almonty Industries in the second quarter worth about $58,000. Pin Oak Investment Advisors Inc. purchased a new position in shares of Almonty Industries in the second quarter worth about $53,000. Public Employees Retirement System of Ohio purchased a new position in shares of Almonty Industries in the second quarter worth about $1,806,000. Finally, Bank of New York Mellon Corp purchased a new position in Almonty Industries during the 2nd quarter worth approximately $7,118,000.

Almonty Industries Price Performance

ALM stock opened at $9.56 on Wednesday. Almonty Industries has a one year low of $5.43 and a one year high of $24.41. The firm has a 50-day simple moving average of $14.02 and a two-hundred day simple moving average of $15.72.

Almonty Industries Company Profile

Almonty Industries Inc is a mining and development company focused primarily on tungsten, a critical industrial metal used in cutting tools, hard metals, defense applications, electronics and other specialized products. The company develops and operates tungsten projects and produces tungsten concentrates for sale to industrial customers and processors.

Almonty’s principal assets include the Panasqueira tungsten mine in Portugal, one of the company’s operating assets, and the Sangdong tungsten project in South Korea, which is being redeveloped as a major source of tungsten concentrate.