Almonty Industries (NASDAQ:ALM) Price Target Raised to $33.00

Almonty Industries (NASDAQ:ALM) had its target price lifted by analysts at DA Davidson from $25.00 to $33.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson’s target price would suggest a potential upside of 124.49% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Almonty Industries in a report on Thursday, June 18th. Texas Capital raised shares of Almonty Industries to a “strong-buy” rating in a report on Thursday, April 16th. B. Riley Financial boosted their price objective on shares of Almonty Industries from $17.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Finally, Oppenheimer increased their price objective on shares of Almonty Industries from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note 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 issued a Sell rating to the stock. Based on data from MarketBeat, Almonty Industries has an average rating of “Moderate Buy” and an average target price of $21.88.

Almonty Industries Price Performance

Shares of NASDAQ ALM opened at $14.70 on Friday. The company has a current ratio of 2.45, a quick ratio of 2.37 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $4.20 billion and a price-to-earnings ratio of -29.40. Almonty Industries has a twelve month low of $3.16 and a twelve month high of $24.41. The business has a 50 day simple moving average of $18.16 and a 200-day simple moving average of $16.06.

Almonty Industries (NASDAQ:ALM) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $18.52 million for the quarter, compared to analysts’ expectations of $15.44 million. Almonty Industries had a negative return on equity of 11.01% and a negative net margin of 262.29%. As a group, equities research analysts expect that Almonty Industries will post 0.46 earnings per share for the current year.

Hedge Funds Weigh In On Almonty Industries

Hedge funds and other institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp raised its stake in Almonty Industries by 13,294.7% during the 4th quarter. Van ECK Associates Corp now owns 11,239,482 shares of the company’s stock valued at $99,013,000 after acquiring an additional 11,155,572 shares in the last quarter. Encompass Capital Advisors LLC acquired a new stake in Almonty Industries in the fourth quarter worth about $25,620,000. Cooper Creek Partners Management LLC grew its position in Almonty Industries by 110.4% in the 1st quarter. Cooper Creek Partners Management LLC now owns 4,781,415 shares of the company’s stock valued at $69,235,000 after buying an additional 2,508,478 shares in the last quarter. Next Century Growth Investors LLC bought a new position in Almonty Industries in the 4th quarter valued at about $16,345,000. Finally, Alyeska Investment Group L.P. acquired a new position in Almonty Industries during the 3rd quarter valued at about $7,839,000.

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.