TD Asset Management Inc Buys New Holdings in Almonty Industries Inc. $ALM

Key Points

• TD Asset Management opened a new position in Almonty Industries, buying 151,252 shares worth about $913,000 (0.07% ownership), while other institutions like Telemark and Old West initiated larger stakes valued at roughly $7.84M and $2.15M respectively.
• Analyst coverage is mixed but leans positive: the consensus rating is a “Moderate Buy” with an average target of $15.13, and recent notes include B. Riley raising its target to $17 and DA Davidson setting a $25 target.
• Shares recently opened at $18.72 with a one-year range of $3.16–$20.88; the company has a market cap of about $5.21 billion and a negative P/E of -81.39, reflecting current losses.

TD Asset Management Inc acquired a new position in Almonty Industries Inc. (NASDAQ:ALM - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The firm acquired 151,252 shares of the company's stock, valued at approximately $913,000. TD Asset Management Inc owned 0.07% of Almonty Industries at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Telemark Asset Management LLC purchased a new position in Almonty Industries in the third quarter valued at approximately $7,839,000. Old West Investment Management LLC purchased a new position in shares of Almonty Industries in the 3rd quarter valued at $2,148,000. Huntleigh Advisors Inc. acquired a new position in shares of Almonty Industries during the 3rd quarter valued at $661,000. Baader Bank Aktiengesellschaft purchased a new stake in Almonty Industries during the 3rd quarter worth $580,000. Finally, Verde Servicos Internacionais S.A. purchased a new stake in Almonty Industries during the 3rd quarter worth $422,000.

Analysts Set New Price Targets

A number of brokerages have commented on ALM. Wall Street Zen upgraded Almonty Industries from a "sell" rating to a "hold" rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Almonty Industries in a report on Monday, December 29th. DA Davidson set a $25.00 price target on Almonty Industries in a report on Friday. Finally, B. Riley Financial increased their price objective on shares of Almonty Industries from $10.00 to $17.00 and gave the company a "buy" rating in a research report on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $15.13.

Almonty Industries Stock Down 3.0%

Shares of NASDAQ ALM opened at $18.72 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.25 and a current ratio of 2.38. Almonty Industries Inc. has a 1 year low of $3.16 and a 1 year high of $20.88. The stock's 50-day simple moving average is $12.64 and its 200-day simple moving average is $8.60. The firm has a market cap of $5.21 billion and a price-to-earnings ratio of -81.39.

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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