Old West Investment Management LLC Makes New Investment in Almonty Industries Inc. $ALM

Old West Investment Management LLC purchased a new stake in shares of Almonty Industries Inc. (NASDAQ:ALM) in the 3rd quarter, HoldingsChannel reports. The fund purchased 356,146 shares of the company’s stock, valued at approximately $2,148,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. General American Investors Co. Inc. bought a new position in shares of Almonty Industries during the 3rd quarter worth approximately $246,000. BLB&B Advisors LLC acquired a new stake in Almonty Industries in the third quarter valued at approximately $298,000. Finally, Huntleigh Advisors Inc. purchased a new position in Almonty Industries in the third quarter worth $661,000.

Almonty Industries Trading Up 11.0%

NASDAQ:ALM opened at $14.10 on Friday. The firm has a market capitalization of $3.71 billion and a P/E ratio of -61.30. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 16.37. Almonty Industries Inc. has a 12 month low of $3.16 and a 12 month high of $14.14. The business’s fifty day moving average is $9.28.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ALM. Weiss Ratings reiterated a “sell (e+)” rating on shares of Almonty Industries in a report on Monday, December 29th. Oppenheimer upped their target price on Almonty Industries from $7.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. DA Davidson increased their price target on Almonty Industries from $12.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Wall Street Zen raised Almonty Industries from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.17.

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.