In a report released on July 9, Matt Summerville from D.A. Davidson reiterated a Buy rating on Almonty Industries, with a price target of $33.00. The company’s shares closed yesterday at C$20.80.TipRanks Welcomes a New ETF – NYSE:RANK TipRanks has entered a new arena in the investing world, powering the index of an ETF based on its unique data now trading under the ticker RANK on the NYSE. RANK tracks the performance of the TipRanks US Momentum Analysts Index, a rules-based index of 50 large U.S. companies.
Summerville covers the Industrials sector, focusing on stocks such as Columbus Mckinnon, Franklin Electric Co, and Graco. According to TipRanks, Summerville has an average return of 15.5% and a 55.24% success rate on recommended stocks.
Currently, the analyst consensus on Almonty Industries is a Strong Buy with an average price target of $26.42, a 27.01% upside from current levels. In a report released on July 8, Bank of America Securities also maintained a Buy rating on the stock with a $23.00 price target.
Based on Almonty Industries’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$25.4 million and a GAAP net loss of C$5.26 million. In comparison, last year the company earned a revenue of C$7.91 million and had a GAAP net loss of C$34.62 million
