Investors Purchase Large Volume of Call Options on Almonty Industries (NASDAQ:ALM)

Almonty Industries Inc. (NASDAQ:ALM) was the target of unusually large options trading activity on Friday. Stock traders bought 5,578 call options on the stock. This represents an increase of 146% compared to the typical daily volume of 2,263 call options.

Almonty Industries Stock Up 2.6%

Shares of NASDAQ:ALM opened at $11.87 on Friday. The company has a current ratio of 9.58, a quick ratio of 9.51 and a debt-to-equity ratio of 1.37. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of 74.19 and a beta of 4.15. The stock’s 50-day moving average price is $15.13 and its two-hundred day moving average price is $16.68. Almonty Industries has a 12-month low of $5.43 and a 12-month high of $24.41.

Institutional Investors Weigh In On Almonty Industries

Several hedge funds have recently modified their holdings of ALM. Cooper Creek Partners Management LLC raised its stake 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 worth $69,235,000 after purchasing an additional 2,508,478 shares during the period. Encompass Capital Advisors LLC grew its stake in shares of Almonty Industries by 47.9% during the 1st quarter. Encompass Capital Advisors LLC now owns 4,300,839 shares of the company’s stock valued at $62,276,000 after buying an additional 1,392,806 shares during the period. Next Century Growth Investors LLC purchased a new stake in shares of Almonty Industries during the 4th quarter valued at $16,345,000. Bank of America Corp DE increased its holdings in shares of Almonty Industries by 309.6% during the 1st 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 last quarter. Finally, Walleye Capital LLC acquired a new stake in shares of Almonty Industries during the 1st quarter worth $12,953,000.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ALM shares. The Goldman Sachs Group started coverage on shares of Almonty Industries in a research note on Thursday, September 24th. They set a “hold” rating and a $13.00 price target on the stock. Weiss Ratings raised shares of Almonty Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 25th. Jefferies Financial Group started coverage on shares of Almonty Industries in a research note on Wednesday, September 2nd. They set a “buy” rating and a $26.25 price objective on the stock. DA Davidson restated a “buy” rating and set a $33.00 target price on shares of Almonty Industries in a research report on Tuesday, September 15th. Finally, Stifel Nicolaus started coverage on shares of Almonty Industries in a research note on Friday, September 25th. They issued a “buy” rating and a $25.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.