Benin Management CORP Invests $1.07 Million in Almonty Industries Inc. $ALM

Benin Management CORP purchased a new position in Almonty Industries Inc. (NASDAQ:ALM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 121,195 shares of the company’s stock, valued at approximately $1,068,000.

Several other hedge funds also recently made changes to their positions in ALM. Huntleigh Advisors Inc. purchased a new position in Almonty Industries during the third quarter valued at approximately $661,000. BLB&B Advisors LLC bought a new position in Almonty Industries in the 3rd quarter valued at $298,000. General American Investors Co. Inc. bought a new position in Almonty Industries in the 3rd quarter valued at $246,000. Old West Investment Management LLC purchased a new position in shares of Almonty Industries during the 3rd quarter valued at $2,148,000. Finally, MCF Advisors LLC purchased a new position in shares of Almonty Industries during the 3rd quarter valued at $60,000.

Analyst Upgrades and Downgrades

ALM has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Almonty Industries in a research report on Monday, December 29th. Oppenheimer boosted their target price on Almonty Industries from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, March 20th. DA Davidson restated a “buy” rating and issued a $25.00 target price on shares of Almonty Industries in a research note on Friday, March 20th. Finally, B. Riley Financial raised their price target on Almonty Industries from $17.00 to $23.00 and gave the company a “buy” rating in a report on Friday, March 20th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Almonty Industries has an average rating of “Moderate Buy” and a consensus price target of $18.38.

Almonty Industries Stock Performance

Almonty Industries stock opened at $16.34 on Thursday. Almonty Industries Inc. has a fifty-two week low of $3.16 and a fifty-two week high of $22.55. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.76 and a current ratio of 3.89. The stock has a market cap of $4.58 billion and a P/E ratio of -28.17. The firm’s fifty day moving average price is $15.08 and its 200-day moving average price is $9.93.

About Almonty Industries

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.