Almonty Industries Inc. $ALM Shares Sold by United Asset Strategies Inc.

Key Points

• United Asset Strategies cut its stake in Almonty Industries by 65.3% in Q4, selling 68,517 shares and retaining 36,483 shares worth $321,000 per the latest SEC filing.
• Analysts are generally positive: the stock has a consensus rating of "Moderate Buy" (1 Strong Buy, 4 Buy, 1 Sell) with a consensus price target of $18.38 and several firms recently raising price targets and ratings.
• Shares fell 5.4%, opening at $22.08, trading between a 1‑year low of $3.16 and high of $24.41, with a market cap of $6.25 billion and a negative P/E of -38.07, signaling recent volatility.

United Asset Strategies Inc. decreased its position in Almonty Industries Inc. (NASDAQ:ALM - Free Report) by 65.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,483 shares of the company's stock after selling 68,517 shares during the quarter. United Asset Strategies Inc.'s holdings in Almonty Industries were worth $321,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. FNY Investment Advisers LLC bought a new stake in shares of Almonty Industries in the 3rd quarter worth approximately $30,000. Banque Cantonale Vaudoise bought a new stake in shares of Almonty Industries in the 3rd quarter worth approximately $54,000. MCF Advisors LLC bought a new stake in shares of Almonty Industries in the 3rd quarter worth approximately $60,000. Oppenheimer & Co. Inc. bought a new stake in shares of Almonty Industries in the 3rd quarter worth approximately $66,000. Finally, Fifth Lane Capital LP bought a new stake in shares of Almonty Industries in the 3rd quarter worth approximately $75,000.

Almonty Industries Stock Down 5.4%

Shares of Almonty Industries stock opened at $22.08 on Friday. The business's fifty day moving average price is $17.96 and its two-hundred day moving average price is $11.83. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.89 and a quick ratio of 3.76. The company has a market capitalization of $6.25 billion and a P/E ratio of -38.07. Almonty Industries Inc. has a 1-year low of $3.16 and a 1-year high of $24.41.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ALM shares. DA Davidson reissued a "buy" rating and issued a $25.00 price target on shares of Almonty Industries in a report on Thursday, March 26th. Weiss Ratings reissued a "sell (e+)" rating on shares of Almonty Industries in a report on Monday, December 29th. Oppenheimer raised their price target on Almonty Industries from $16.00 to $19.00 and gave the stock an "outperform" rating in a report on Friday, March 20th. Texas Capital raised Almonty Industries to a "strong-buy" rating in a report on Thursday, April 16th. Finally, B. Riley Financial raised their price target on Almonty Industries from $17.00 to $23.00 and gave the stock a "buy" rating in a report on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $18.38.

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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