Element Capital Management LLC Takes Position in Almonty Industries Inc. $ALM

Element Capital Management LLC bought a new position in Almonty Industries Inc. (NASDAQ:ALM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 210,513 shares of the company’s stock, valued at approximately $1,855,000. Almonty Industries comprises 0.9% of Element Capital Management LLC’s holdings, making the stock its 28th biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALM. Global Retirement Partners LLC acquired a new position in Almonty Industries in the fourth quarter valued at approximately $35,000. State of Wyoming acquired a new stake in shares of Almonty Industries during the 4th quarter worth approximately $41,000. FNY Investment Advisers LLC purchased a new position in shares of Almonty Industries during the 3rd quarter valued at approximately $30,000. Banque Cantonale Vaudoise purchased a new position in shares of Almonty Industries during the 3rd quarter valued at approximately $54,000. Finally, Deutsche Bank AG acquired a new position in shares of Almonty Industries in the 4th quarter valued at $79,000.

Almonty Industries Stock Performance

ALM opened at $18.28 on Thursday. The firm’s fifty day simple moving average is $19.54 and its two-hundred day simple moving average is $15.02. Almonty Industries Inc. has a 52-week low of $3.16 and a 52-week high of $24.41. The company has a market cap of $5.22 billion and a price-to-earnings ratio of -36.56. The company has a quick ratio of 2.37, a current ratio of 2.45 and a debt-to-equity ratio of 0.30.

Almonty Industries (NASDAQ:ALM) last released its quarterly earnings results on Monday, May 11th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $18.52 million during the quarter, compared to the consensus estimate of $15.44 million. Almonty Industries had a negative net margin of 262.29% and a negative return on equity of 11.01%. Equities analysts anticipate that Almonty Industries Inc. will post 0.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

ALM has been the topic of a number of recent analyst reports. DA Davidson reissued a “buy” rating and set a $25.00 price target on shares of Almonty Industries in a report on Thursday, March 26th. Oppenheimer upped their price objective on shares of Almonty Industries from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Texas Capital raised shares of Almonty Industries to a “strong-buy” rating in a research note on Thursday, April 16th. Finally, B. Riley Financial lifted their price target on Almonty Industries from $17.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, March 20th. One 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 company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.88.

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.