Almonty Industries (NASDAQ:ALM) Issues Earnings Results, Hits Estimates
by Amy Steele · The Cerbat GemAlmonty Industries (NASDAQ:ALM – Get Free Report) announced its earnings results on Monday. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01, Zacks reports. Almonty Industries had a negative net margin of 496.03% and a negative return on equity of 26.23%.
Almonty Industries Stock Up 6.3%
Shares of Almonty Industries stock traded up $1.24 during trading on Monday, hitting $20.92. 5,759,353 shares of the stock were exchanged, compared to its average volume of 5,337,918. The firm’s 50-day moving average price is $19.07 and its 200 day moving average price is $12.76. Almonty Industries has a 12-month low of $3.16 and a 12-month high of $24.41. 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 stock has a market cap of $5.92 billion and a price-to-earnings ratio of -36.07.
Wall Street Analyst Weigh In
ALM has been the subject of several analyst reports. DA Davidson restated a “buy” rating and issued a $25.00 price objective on shares of Almonty Industries in a report on Thursday, March 26th. Texas Capital upgraded Almonty Industries to a “strong-buy” rating in a research note on Thursday, April 16th. B. Riley Financial increased their target price on Almonty Industries from $17.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Finally, Oppenheimer boosted their target price on shares of Almonty Industries from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, March 20th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Almonty Industries presently has an average rating of “Moderate Buy” and an average target price of $18.38.
Institutional Trading of Almonty Industries
Hedge funds have recently made changes to their positions in the company. Aventail Capital Group LP acquired a new stake in Almonty Industries in the 4th quarter valued at approximately $490,000. Himension Capital Singapore PTE. LTD. grew its holdings in shares of Almonty Industries by 266.5% during the fourth quarter. Himension Capital Singapore PTE. LTD. now owns 46,079 shares of the company’s stock worth $406,000 after purchasing an additional 33,507 shares during the last quarter. DLD Asset Management LP acquired a new stake in Almonty Industries during the 4th quarter worth $396,000. SIH Partners LLLP bought a new position in shares of Almonty Industries during the 4th quarter valued at about $316,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Almonty Industries during the fourth quarter valued at approximately $297,000.
Almonty Industries Company 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.