Apis Capital Advisors LLC Invests $2.04 Million in Almonty Industries Inc. $ALM

Apis Capital Advisors LLC acquired a new stake in Almonty Industries Inc. (NASDAQ:ALM) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 338,386 shares of the company’s stock, valued at approximately $2,040,000. Apis Capital Advisors LLC owned approximately 0.15% of Almonty Industries as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ALM. Banque Cantonale Vaudoise bought a new position in Almonty Industries during the third quarter worth about $54,000. MCF Advisors LLC bought a new stake in shares of Almonty Industries in the third quarter worth about $60,000. Oppenheimer & Co. Inc. bought a new stake in shares of Almonty Industries in the third quarter worth about $66,000. Fifth Lane Capital LP acquired a new stake in shares of Almonty Industries during the third quarter worth about $75,000. Finally, Serenus Wealth Advisors LLC acquired a new stake in shares of Almonty Industries during the third quarter worth about $121,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. B. Riley Financial lifted their price objective on 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 target price on shares of Almonty Industries in a report on Friday, March 6th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Almonty Industries in a research note on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Almonty Industries presently has an average rating of “Moderate Buy” and a consensus target price of $15.13.

Almonty Industries Price Performance

NASDAQ:ALM opened at $19.67 on Friday. The stock has a market capitalization of $5.48 billion and a PE ratio of -85.52. Almonty Industries Inc. has a 1-year low of $3.16 and a 1-year high of $22.55. The firm has a fifty day simple moving average of $13.83 and a 200 day simple moving average of $9.21. The company has a current ratio of 2.38, a quick ratio of 2.25 and a debt-to-equity ratio of 1.02.

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.