Almonty Industries (NASDAQ:ALM) Stock Sees Heavy Call Option Buying

Almonty Industries Inc. (NASDAQ:ALM) was the recipient of some unusual options trading activity on Friday. Traders bought 5,578 call options on the company. This represents an increase of approximately 146% compared to the typical daily volume of 2,263 call options.

Institutional Trading of Almonty Industries

Several large investors have recently added to or reduced their stakes in ALM. Cooper Creek Partners Management LLC boosted its stake in shares of Almonty Industries by 110.4% during the 1st quarter. Cooper Creek Partners Management LLC now owns 4,781,415 shares of the company’s stock worth $69,235,000 after acquiring an additional 2,508,478 shares during the last quarter. Encompass Capital Advisors LLC increased its position 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 buying an additional 1,392,806 shares in the last quarter. Next Century Growth Investors LLC bought a new position in shares of Almonty Industries in the fourth quarter worth about $16,345,000. Bank of America Corp DE raised its stake in shares of Almonty Industries by 309.6% in the first quarter. Bank of America Corp DE now owns 908,911 shares of the company’s stock worth $13,161,000 after buying an additional 686,982 shares during the period. Finally, Walleye Capital LLC purchased a new position in shares of Almonty Industries during the 1st quarter valued at about $12,953,000.

Almonty Industries Stock Performance

Almonty Industries stock traded down $0.10 during mid-day trading on Friday, reaching $11.46. 1,242,824 shares of the stock traded hands, compared to its average volume of 5,758,632. The stock has a market capitalization of $3.30 billion, a PE ratio of 71.60 and a beta of 4.15. The company has a debt-to-equity ratio of 1.37, a current ratio of 9.58 and a quick ratio of 9.51. Almonty Industries has a 12-month low of $5.43 and a 12-month high of $24.41. The business’s 50-day moving average is $15.11 and its 200-day moving average is $16.71.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ALM shares. Stifel Nicolaus assumed coverage on shares of Almonty Industries in a report on Friday, September 25th. They issued a “buy” rating and a $25.00 price objective for the company. Weiss Ratings raised Almonty Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, September 25th. 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 price target for the company. Jefferies Financial Group initiated coverage on Almonty Industries in a research report on Wednesday, September 2nd. They set a “buy” rating and a $26.25 price objective on the stock. Finally, DA Davidson reiterated a “buy” rating and issued a $33.00 price objective on shares of Almonty Industries in a report on Tuesday, September 15th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Almonty Industries presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.21.

About Almonty Industries

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.