Traders Buy Large Volume of Call Options on Almonty Industries (NASDAQ:ALM)

Almonty Industries Inc. (NASDAQ:ALM) was the target of some unusual options trading activity on Thursday. Stock investors purchased 5,235 call options on the company. This represents an increase of approximately 166% compared to the average volume of 1,968 call options.

Institutional Investors Weigh In On Almonty Industries

Several institutional investors and hedge funds have recently bought and sold shares of ALM. Huntleigh Advisors Inc. acquired a new stake in Almonty Industries during the third quarter worth about $661,000. BLB&B Advisors LLC acquired a new stake in Almonty Industries during the third quarter worth about $298,000. General American Investors Co. Inc. acquired a new stake in Almonty Industries during the third quarter worth about $246,000. Old West Investment Management LLC acquired a new stake in Almonty Industries during the third quarter worth about $2,148,000. Finally, MCF Advisors LLC acquired a new stake in Almonty Industries during the third quarter worth about $60,000.

Analyst Ratings Changes

ALM has been the topic of a number of recent analyst reports. Oppenheimer upped their target price on shares of Almonty Industries from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, March 20th. Weiss Ratings restated a “sell (e+)” rating on shares of Almonty Industries in a research note on Monday, December 29th. B. Riley Financial upped their target price on shares of Almonty Industries from $17.00 to $23.00 and gave the company a “buy” rating in a research note 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 Thursday, March 26th. Finally, Texas Capital upgraded shares of Almonty Industries to a “strong-buy” rating in a research note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $18.38.

Almonty Industries Price Performance

ALM opened at $22.08 on Friday. The firm has a market cap of $6.25 billion and a price-to-earnings ratio of -38.07. Almonty Industries has a fifty-two week low of $3.16 and a fifty-two week high of $24.41. The company’s 50-day moving average price is $17.96 and its 200 day moving average price is $11.83. The company has a quick ratio of 3.76, a current ratio of 3.89 and a debt-to-equity ratio of 0.38.

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.