Marathon Capital Management Buys Shares of 250,235 Almonty Industries Inc. $ALM

Marathon Capital Management bought a new position in Almonty Industries Inc. (NASDAQ:ALM) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 250,235 shares of the company’s stock, valued at approximately $1,509,000.

Several other hedge funds have also recently modified their holdings of the business. Banque Cantonale Vaudoise bought a new position in shares of Almonty Industries during the third quarter valued at $54,000. MCF Advisors LLC bought a new stake in Almonty Industries in the 3rd quarter worth about $60,000. Oppenheimer & Co. Inc. bought a new stake in Almonty Industries in the 3rd quarter worth about $66,000. Fifth Lane Capital LP purchased a new position in Almonty Industries in the 3rd quarter worth about $75,000. Finally, Serenus Wealth Advisors LLC purchased a new position in Almonty Industries in the 3rd quarter worth about $121,000.

Almonty Industries Price Performance

NASDAQ ALM opened at $19.67 on Friday. The company has a current ratio of 2.38, a quick ratio of 2.25 and a debt-to-equity ratio of 1.02. Almonty Industries Inc. has a 12 month low of $3.16 and a 12 month high of $22.55. The stock has a market cap of $5.48 billion and a price-to-earnings ratio of -85.52. The company’s 50 day moving average is $13.83 and its two-hundred day moving average is $9.18.

Analyst Upgrades and Downgrades

ALM has been the topic of a number of recent analyst reports. B. Riley Financial raised their price target on shares of Almonty Industries from $10.00 to $17.00 and gave the company a “buy” rating in a report on Friday, February 13th. DA Davidson set a $25.00 price objective on shares of Almonty Industries in a report on Friday, March 6th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Almonty Industries in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.13.

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.