Public Employees Retirement System of Ohio Makes New $1.81 Million Investment in Almonty Industries Inc. $ALM

Key Points

• Public Employees Retirement System of Ohio purchased 109,121 shares of Almonty Industries worth approximately $1.81 million during the second quarter.
• Several institutional investors have increased or initiated positions in Almonty, including Van ECK Associates, Cooper Creek Partners and Encompass Capital Advisors.
• Analysts remain broadly positive, with the stock carrying a consensus “Buy” rating and an average price target of $26.81, versus a recent price of $17.57.

Public Employees Retirement System of Ohio bought a new stake in Almonty Industries Inc. (NASDAQ:ALM - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 109,121 shares of the company's stock, valued at approximately $1,806,000.

Other hedge funds have also made changes to their positions in the company. Van ECK Associates Corp boosted its holdings in Almonty Industries by 13,294.7% during the fourth quarter. Van ECK Associates Corp now owns 11,239,482 shares of the company's stock valued at $99,013,000 after acquiring an additional 11,155,572 shares during the period. Encompass Capital Advisors LLC bought a new stake in shares of Almonty Industries during the fourth quarter valued at approximately $25,620,000. Cooper Creek Partners Management LLC increased 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 valued at $69,235,000 after buying an additional 2,508,478 shares during the period. Next Century Growth Investors LLC bought a new stake in Almonty Industries in the fourth quarter valued at about $16,345,000. Finally, Ghisallo Capital Management LLC acquired a new position in shares of Almonty Industries in the 4th quarter worth approximately $11,453,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ALM shares. Oppenheimer increased their target price on shares of Almonty Industries from $22.00 to $25.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 3rd. DA Davidson boosted their target price on Almonty Industries from $25.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Weiss Ratings upgraded shares of Almonty Industries from a "sell (d-)" rating to a "hold (c-)" rating in a report on Wednesday, August 12th. Finally, Jefferies Financial Group started coverage on Almonty Industries in a research note on Wednesday, September 2nd. They issued a "buy" rating and a $26.25 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $26.81.

Almonty Industries Price Performance

ALM stock opened at $17.57 on Monday. Almonty Industries Inc. has a fifty-two week low of $4.10 and a fifty-two week high of $24.41. The company has a debt-to-equity ratio of 1.37, a current ratio of 9.58 and a quick ratio of 9.51. The business has a 50-day moving average of $15.24 and a 200-day moving average of $17.35. The stock has a market capitalization of $5.06 billion, a P/E ratio of 109.82 and a beta of 3.75.

Almonty Industries Company 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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