Almonty Industries (NASDAQ:ALM) Shares Down 4.8% - Time to Sell?

Key Points

• Almonty Industries shares fell 4.8% to about $13.04, with trading volume roughly 75% below the average daily level.
• Analyst sentiment remains broadly positive: the stock has an average “Moderate Buy” rating and a consensus price target of $21.88, despite one sell rating.
• The company met quarterly EPS expectations at $0.01 and exceeded revenue estimates, but it continues to report negative margins and return on equity.

Almonty Industries Inc. (NASDAQ:ALM - Get Free Report)'s share price was down 4.8% on Tuesday . The stock traded as low as $13.26 and last traded at $13.0420. Approximately 1,406,964 shares traded hands during trading, a decline of 75% from the average daily volume of 5,560,668 shares. The stock had previously closed at $13.70.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ALM. Texas Capital upgraded shares of Almonty Industries to a "strong-buy" rating in a research note on Thursday, April 16th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Almonty Industries in a research note on Thursday, June 18th. Oppenheimer boosted their target price on Almonty Industries from $22.00 to $25.00 and gave the stock an "outperform" rating in a report on Wednesday, June 3rd. Finally, DA Davidson raised their price target on Almonty Industries from $25.00 to $33.00 and gave the company a "buy" rating in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $21.88.

Almonty Industries Stock Performance

The company has a fifty day moving average of $15.57 and a two-hundred day moving average of $16.75. The firm has a market capitalization of $3.71 billion and a price-to-earnings ratio of -25.73. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.37 and a current ratio of 2.45.

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

Hedge Funds Weigh In On Almonty Industries

Several institutional investors and hedge funds have recently modified their holdings of ALM. Leonteq Securities AG bought a new position in Almonty Industries during the first quarter worth about $29,000. Global Retirement Partners LLC bought a new stake in Almonty Industries in the 4th quarter valued at about $35,000. Rockefeller Capital Management L.P. grew its position in shares of 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 purchasing an additional 1,000 shares in the last quarter. State of Wyoming bought a new position in shares of Almonty Industries during the fourth quarter worth approximately $41,000. Finally, Banque Cantonale Vaudoise bought a new position in shares of Almonty Industries during the third quarter worth approximately $54,000.

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.

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