Almonty Industries (NASDAQ:ALM) Posts Earnings Results

Almonty Industries (NASDAQ:ALM) issued its quarterly earnings data on Monday. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01, Zacks reports. Almonty Industries had a negative return on equity of 26.23% and a negative net margin of 496.03%.

Almonty Industries Price Performance

Shares of NASDAQ:ALM traded up $1.24 during midday trading on Monday, reaching $20.92. The company’s stock had a trading volume of 5,759,353 shares, compared to its average volume of 5,337,918. Almonty Industries has a fifty-two week low of $3.16 and a fifty-two week high of $24.41. The company has a market capitalization of $5.92 billion and a P/E ratio of -36.07. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.89 and a quick ratio of 3.76. The business’s fifty day simple moving average is $19.07 and its 200-day simple moving average is $12.76.

Institutional Trading of Almonty Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Global Retirement Partners LLC acquired a new stake in shares of Almonty Industries in the fourth quarter valued at $35,000. State of Wyoming acquired a new stake in shares of Almonty Industries in the fourth quarter valued at $41,000. TD Asset Management Inc increased its stake in shares of Almonty Industries by 3.5% in the fourth quarter. TD Asset Management Inc now owns 156,474 shares of the company’s stock valued at $1,378,000 after buying an additional 5,222 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Almonty Industries in the third quarter valued at $54,000. Finally, Deutsche Bank AG acquired a new stake in shares of Almonty Industries in the fourth quarter valued at $79,000.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. DA Davidson reissued a “buy” rating and set a $25.00 price objective on shares of Almonty Industries in a report on Thursday, March 26th. B. Riley Financial lifted their price objective on Almonty Industries from $17.00 to $23.00 and gave the company a “buy” rating in a report on Friday, March 20th. Oppenheimer lifted their price objective on Almonty Industries from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, March 20th. Finally, Texas Capital raised Almonty Industries to a “strong-buy” rating in a report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.38.

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.