Marathon Capital Management Has $5.23 Million Holdings in Almonty Industries Inc. $ALM

Key Points

• Marathon Capital Management raised its stake in Almonty Industries by 137.2% to 593,515 shares (about $5.23 million), representing roughly 0.23% of the company.
• Analyst sentiment is mixed-but-leaning-positive with a consensus rating of Moderate Buy and an average price target of $18.38; several firms raised targets (e.g., DA Davidson $25, B. Riley $23, Oppenheimer $19) while Weiss Ratings maintained a sell.
• Almonty shares opened at $21.92, trading near the 52-week high of $24.41, with a market cap of $6.20 billion and a negative trailing P/E (-37.79).

Marathon Capital Management raised its position in Almonty Industries Inc. (NASDAQ:ALM - Free Report) by 137.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 593,515 shares of the company's stock after purchasing an additional 343,280 shares during the quarter. Marathon Capital Management owned 0.23% of Almonty Industries worth $5,229,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Eagle Investment Management LLC acquired a new stake in shares of Almonty Industries in the 3rd quarter valued at about $543,000. Telemark Asset Management LLC acquired a new stake in shares of Almonty Industries in the 3rd quarter valued at about $7,839,000. Huntleigh Advisors Inc. acquired a new stake in shares of Almonty Industries in the 3rd quarter valued at about $661,000. Old West Investment Management LLC bought a new position in shares of Almonty Industries in the 3rd quarter valued at about $2,148,000. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of Almonty Industries in the 3rd quarter valued at about $580,000.

Wall Street Analysts Forecast Growth

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

Almonty Industries Trading Down 0.7%

Shares of Almonty Industries stock opened at $21.92 on Friday. The firm has a 50-day moving average of $18.12 and a 200-day moving average of $11.93. The stock has a market cap of $6.20 billion and a PE ratio of -37.79. Almonty Industries Inc. has a 52-week low of $3.16 and a 52-week high of $24.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.76 and a current ratio of 3.89.

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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