Bank of America Corp DE grew its stake in shares of Almonty Industries Inc. (NASDAQ:ALM - Free Report) by 309.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 908,911 shares of the company's stock after purchasing an additional 686,982 shares during the quarter. Bank of America Corp DE owned 0.32% of Almonty Industries worth $13,161,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the stock. Van ECK Associates Corp grew its holdings 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 purchasing an additional 11,155,572 shares in the last quarter. Cooper Creek Partners Management LLC lifted its holdings 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 worth $69,235,000 after buying an additional 2,508,478 shares in the last quarter. Encompass Capital Advisors LLC boosted its position in Almonty Industries by 47.9% in the 1st quarter. Encompass Capital Advisors LLC now owns 4,300,839 shares of the company's stock valued at $62,276,000 after buying an additional 1,392,806 shares during the last quarter. Next Century Growth Investors LLC purchased 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 stake in shares of Almonty Industries during the third quarter valued at about $7,839,000.
Wall Street Analyst Weigh In
ALM has been the subject of a number of recent analyst reports. Oppenheimer raised their price objective on Almonty Industries from $22.00 to $25.00 and gave the company an "outperform" rating in a research note on Wednesday, June 3rd. Weiss Ratings upgraded Almonty Industries from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Wednesday, August 12th. Finally, DA Davidson raised their price target on shares of Almonty Industries from $25.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $27.00.
Get Our Latest Stock Analysis on Almonty Industries
Almonty Industries Price Performance
NASDAQ:ALM opened at $18.51 on Friday. The business's 50-day moving average price is $15.19 and its 200 day moving average price is $17.00. The firm has a market cap of $5.33 billion and a P/E ratio of 115.69. Almonty Industries Inc. has a 52-week low of $3.97 and a 52-week high of $24.41. The company has a quick ratio of 9.51, a current ratio of 9.58 and a debt-to-equity ratio of 1.37.
About Almonty Industries
(
Free Report)
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.
Further Reading
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