Almonty Industries Inc. $ALM is Encompass Capital Advisors LLC’s 9th Largest Position

Encompass Capital Advisors LLC lifted its holdings in shares of Almonty Industries Inc. (NASDAQ:ALM) by 47.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 4,300,839 shares of the company’s stock after buying an additional 1,392,806 shares during the quarter. Almonty Industries makes up approximately 1.9% of Encompass Capital Advisors LLC’s investment portfolio, making the stock its 9th largest position. Encompass Capital Advisors LLC’s holdings in Almonty Industries were worth $62,276,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Leonteq Securities AG acquired a new position in Almonty Industries in the 1st quarter valued at about $29,000. Global Retirement Partners LLC acquired a new stake in Almonty Industries during the 4th quarter worth approximately $35,000. Rockefeller Capital Management L.P. lifted its position in Almonty Industries by 30.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,333 shares of the company’s stock worth $38,000 after acquiring an additional 1,000 shares during the period. State of Wyoming purchased a new position in shares of Almonty Industries in the 4th quarter valued at approximately $41,000. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Almonty Industries in the 3rd quarter valued at approximately $54,000.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ALM. DA Davidson raised their price target on Almonty Industries from $25.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Texas Capital upgraded shares of Almonty Industries to a “strong-buy” rating in a research report on Thursday, April 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Almonty Industries in a research note on Thursday, June 18th. Finally, Oppenheimer raised their target price on shares of Almonty Industries from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Almonty Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.88.

Almonty Industries Stock Performance

NASDAQ ALM opened at $13.35 on Tuesday. 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 Inc. has a fifty-two week low of $3.16 and a fifty-two week high of $24.41. The business has a fifty day moving average of $16.85 and a 200-day moving average of $16.50. The stock has a market cap of $3.85 billion and a price-to-earnings ratio of -26.70.

Almonty Industries (NASDAQ:ALM) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. The business had revenue of $18.52 million for the quarter, compared to analyst estimates of $15.44 million. Almonty Industries had a negative return on equity of 11.01% and a negative net margin of 262.29%. As a group, analysts predict that Almonty Industries Inc. will post 0.46 earnings per share for the current fiscal year.

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.