Old West Investment Management LLC Takes $2.15 Million Position in Almonty Industries Inc. $ALM

Old West Investment Management LLC purchased a new position in shares of Almonty Industries Inc. (NASDAQ:ALM) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 356,146 shares of the company’s stock, valued at approximately $2,148,000. Old West Investment Management LLC owned about 0.16% of Almonty Industries as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. General American Investors Co. Inc. purchased a new stake in Almonty Industries in the third quarter worth $246,000. BLB&B Advisors LLC purchased a new stake in shares of Almonty Industries during the third quarter valued at $298,000. Finally, Huntleigh Advisors Inc. bought a new position in shares of Almonty Industries in the third quarter worth about $661,000.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Oppenheimer lifted their price objective on shares of Almonty Industries from $7.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, October 15th. Wall Street Zen raised shares of Almonty Industries from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. DA Davidson boosted their price target on Almonty Industries from $12.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Almonty Industries in a report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $12.17.

Almonty Industries Stock Up 11.0%

Shares of NASDAQ:ALM opened at $14.10 on Friday. The business has a 50 day simple moving average of $9.28. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 16.37. The company has a market capitalization of $3.71 billion and a P/E ratio of -61.30. Almonty Industries Inc. has a 52 week low of $3.16 and a 52 week high of $14.14.

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.