Almonty Industries (NASDAQ:ALM) Releases Quarterly Earnings Results

Almonty Industries (NASDAQ:ALM) posted its quarterly earnings data on Thursday. The company reported ($0.43) earnings per share for the quarter, Briefing.com reports. Almonty Industries had a negative net margin of 213.60% and a negative return on equity of 52.96%.

Almonty Industries Stock Performance

Shares of NASDAQ:ALM traded down $1.16 during trading on Thursday, hitting $16.62. 2,612,502 shares of the stock were exchanged, compared to its average volume of 5,032,387. Almonty Industries has a 1-year low of $3.16 and a 1-year high of $22.55. The company has a market capitalization of $4.66 billion and a price-to-earnings ratio of -70.34. The company’s fifty day simple moving average is $14.36 and its 200-day simple moving average is $9.51. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.25 and a current ratio of 2.38.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Van ECK Associates Corp lifted its position in Almonty Industries by 13,294.7% in the fourth quarter. Van ECK Associates Corp now owns 11,239,482 shares of the company’s stock worth $99,013,000 after purchasing an additional 11,155,572 shares during the period. Alyeska Investment Group L.P. bought a new stake in Almonty Industries in the 3rd quarter valued at $7,839,000. Ghisallo Capital Management LLC bought a new stake in Almonty Industries in the 4th quarter valued at $11,453,000. Marshall Wace LLP raised its stake in shares of Almonty Industries by 7,507.2% in the 4th quarter. Marshall Wace LLP now owns 1,274,353 shares of the company’s stock valued at $11,227,000 after buying an additional 1,257,601 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of Almonty Industries in the 4th quarter valued at $9,030,000.

Analysts Set New Price Targets

ALM has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Almonty Industries in a research note on Monday, December 29th. DA Davidson set a $25.00 price target on shares of Almonty Industries in a research report on Friday, March 6th. Finally, B. Riley Financial boosted their price objective on shares of Almonty Industries from $10.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $15.13.

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.