90,000 Shares in Almonty Industries Inc. $ALM Purchased by First Eagle Investment Management LLC

Key Points

• First Eagle Investment Management bought a new stake of 90,000 shares in Almonty Industries (NASDAQ:ALM) in Q3, valued at roughly $543,000, while other institutions (notably Old West Investment Management with about $2.15M) also initiated or increased positions.
• Analyst activity has been bullish recently—B. Riley and DA Davidson raised targets to $17 and $18 with "buy" ratings—while MarketBeat shows an average rating of Moderate Buy and an average price target of $13.38 (four buys, one sell).
• Almonty is a Canada-based tungsten mining company; its stock opened at $19.30, trades in a one-year range of $3.16–$20.88, has a market cap of about $5.38B, and a negative trailing PE of −83.91.

First Eagle Investment Management LLC purchased a new stake in shares of Almonty Industries Inc. (NASDAQ:ALM - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 90,000 shares of the company's stock, valued at approximately $543,000.

Other hedge funds have also bought and sold shares of the company. Huntleigh Advisors Inc. acquired a new stake in shares of Almonty Industries during the 3rd quarter worth approximately $661,000. BLB&B Advisors LLC acquired a new position in shares of Almonty Industries in the third quarter worth about $298,000. General American Investors Co. Inc. purchased a new stake in shares of Almonty Industries during the 3rd quarter worth about $246,000. Old West Investment Management LLC acquired a new stake in shares of Almonty Industries during the 3rd quarter valued at about $2,148,000. Finally, MCF Advisors LLC purchased a new position in shares of Almonty Industries in the 3rd quarter valued at about $60,000.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ALM shares. B. Riley Financial increased their price target on Almonty Industries from $10.00 to $17.00 and gave the stock a "buy" rating in a research report on Friday, February 13th. DA Davidson upped their target price on Almonty Industries from $12.00 to $18.00 and gave the stock a "buy" rating in a research note on Wednesday, February 4th. Weiss Ratings reissued a "sell (e+)" rating on shares of Almonty Industries in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Almonty Industries from a "sell" rating to a "hold" rating in a research report on Saturday, November 8th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Almonty Industries currently has an average rating of "Moderate Buy" and an average price target of $13.38.

Almonty Industries Stock Performance

Shares of NASDAQ:ALM opened at $19.30 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.38 and a quick ratio of 2.25. Almonty Industries Inc. has a 1 year low of $3.16 and a 1 year high of $20.88. The firm has a market capitalization of $5.38 billion and a PE ratio of -83.91. The business's 50 day moving average price is $12.46 and its 200-day moving average price is $8.51.

Almonty Industries 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.

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