Stock Traders Purchase High Volume of Almonty Industries Call Options (NASDAQ:ALM)

Key Points

• Unusual options activity: Investors purchased 5,578 Almonty Industries call options, 146% above the typical volume of 2,263 contracts.
• Stock performance: ALM fell 0.9% to $11.46, well below its 50-day and 200-day moving averages, while showing high volatility with a beta of 4.15.
• Analyst outlook remains positive: The stock has a consensus “Moderate Buy” rating and a $24.21 price target, supported by recent buy ratings and institutional purchases.

Almonty Industries Inc. (NASDAQ:ALM - Get Free Report) was the target of some unusual options trading activity on Friday. Investors purchased 5,578 call options on the stock. This represents an increase of 146% compared to the typical volume of 2,263 call options.

Almonty Industries Trading Down 0.9%

NASDAQ:ALM traded down $0.10 during trading hours on Friday, reaching $11.46. The company's stock had a trading volume of 1,242,824 shares, compared to its average volume of 5,758,632. The company has a debt-to-equity ratio of 1.37, a quick ratio of 9.51 and a current ratio of 9.58. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 71.60 and a beta of 4.15. The firm has a 50-day simple moving average of $15.11 and a 200-day simple moving average of $16.71. Almonty Industries has a 1 year low of $5.43 and a 1 year high of $24.41.

Institutional Trading of Almonty Industries

Several large investors have recently bought and sold shares of the company. Cooper Creek Partners Management LLC grew its stake in shares of 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 during the last quarter. Encompass Capital Advisors LLC boosted its holdings in Almonty Industries by 47.9% in the first quarter. Encompass Capital Advisors LLC now owns 4,300,839 shares of the company's stock worth $62,276,000 after acquiring an additional 1,392,806 shares in the last quarter. Next Century Growth Investors LLC purchased a new stake in shares of Almonty Industries in the fourth quarter worth $16,345,000. Bank of America Corp DE increased its holdings in shares of Almonty Industries by 309.6% during the first quarter. Bank of America Corp DE now owns 908,911 shares of the company's stock valued at $13,161,000 after acquiring an additional 686,982 shares in the last quarter. Finally, Walleye Capital LLC bought a new position in shares of Almonty Industries during the first quarter valued at $12,953,000.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ALM. Stifel Nicolaus assumed coverage on shares of Almonty Industries in a research report on Friday, September 25th. They set a "buy" rating and a $25.00 price objective on the stock. The Goldman Sachs Group initiated coverage on Almonty Industries in a research note on Thursday, September 24th. They issued a "hold" rating and a $13.00 target price on the stock. Weiss Ratings upgraded Almonty Industries from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, September 25th. DA Davidson reaffirmed a "buy" rating and set a $33.00 price target on shares of Almonty Industries in a research note on Tuesday, September 15th. Finally, Jefferies Financial Group started coverage on Almonty Industries in a report on Wednesday, September 2nd. They issued a "buy" rating and a $26.25 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $24.21.

Almonty Industries Company Profile

Almonty Industries Inc is a mining and development company focused primarily on tungsten, a critical mineral used in industrial, manufacturing, defense and technology applications. The company's activities include the exploration, development and operation of tungsten properties, as well as the processing and sale of tungsten concentrates.

Almonty's portfolio includes the Panasqueira tungsten mine in Portugal, one of its producing assets, and the Sangdong tungsten project in South Korea, which the company is developing as a major source of tungsten supply.

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