Almonty Industries Inc. $ALM Stock Position Raised by Bank of America Corp DE

Bank of America Corp DE raised its position in shares of Almonty Industries Inc. (NASDAQ:ALM) by 309.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 908,911 shares of the company’s stock after purchasing an additional 686,982 shares during the quarter. Bank of America Corp DE’s holdings in Almonty Industries were worth $13,161,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ALM. Van ECK Associates Corp boosted its position in shares of Almonty Industries by 13,294.7% in the fourth quarter. Van ECK Associates Corp now owns 11,239,482 shares of the company’s stock worth $99,013,000 after buying an additional 11,155,572 shares during the period. Cooper Creek Partners Management LLC raised its position in Almonty Industries by 110.4% during the first 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. Encompass Capital Advisors LLC lifted its stake in Almonty Industries by 47.9% in the 1st 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 Almonty Industries in the 4th quarter worth about $16,345,000. Finally, Alyeska Investment Group L.P. acquired a new stake in Almonty Industries during the 3rd quarter worth about $7,839,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Oppenheimer upped their target price on Almonty Industries from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. 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, DA Davidson boosted their price objective on shares of Almonty Industries from $25.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $27.00.

Almonty Industries Trading Up 4.6%

Shares of Almonty Industries stock opened at $18.51 on Friday. Almonty Industries Inc. has a 1 year low of $3.97 and a 1 year high of $24.41. The company’s fifty day simple moving average is $15.19 and its 200-day simple moving average is $17.00. The company has a market cap of $5.33 billion and a price-to-earnings ratio of 115.69. The company has a current ratio of 9.58, a quick ratio of 9.51 and a debt-to-equity ratio of 1.37.

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.