Almonty Industries (NASDAQ:ALM) Trading Down 6.7% - Should You Sell?

Key Points

• Almonty Industries shares fell 6.7% on Monday, trading as low as $15.52 before closing near $15.50 on volume well below average.
• Analyst sentiment is mixed but generally constructive: several firms raised price targets and ratings, while Weiss Ratings kept a sell call. The stock currently carries a consensus Moderate Buy with an average price target of $21.88.
• The company recently met EPS expectations and beat revenue estimates for the quarter, but it continues to post negative profitability metrics including a negative net margin and return on equity.

Almonty Industries Inc. (NASDAQ:ALM - Get Free Report)'s share price fell 6.7% on Monday . The stock traded as low as $15.52 and last traded at $15.4990. Approximately 1,110,438 shares were traded during mid-day trading, a decline of 79% from the average session volume of 5,383,036 shares. The stock had previously closed at $16.61.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ALM shares. B. Riley Financial boosted their price target on shares of Almonty Industries from $17.00 to $23.00 and gave the company a "buy" rating in a report on Friday, March 20th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Almonty Industries in a research report on Thursday, June 18th. DA Davidson boosted their target price on shares of Almonty Industries from $25.00 to $33.00 and gave the company a "buy" rating in a research note on Friday. Oppenheimer raised their target price on Almonty Industries from $22.00 to $25.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 3rd. Finally, Texas Capital upgraded Almonty Industries to a "strong-buy" rating in a report on Thursday, April 16th. One 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 MarketBeat.com, Almonty Industries currently has a consensus rating of "Moderate Buy" and an average price target of $21.88.

Almonty Industries Price Performance

The stock's 50-day moving average is $18.10 and its 200 day moving average is $16.12. The stock has a market capitalization of $4.29 billion and a PE ratio of -30.03. 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 - Get Free Report) last released its earnings results on Monday, May 11th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.01. The company 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%. As a group, equities analysts predict that Almonty Industries Inc. will post 0.46 earnings per share for the current year.

Institutional Trading of Almonty Industries

A number of institutional investors have recently bought and sold shares of ALM. Van ECK Associates Corp grew its stake 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 valued at $99,013,000 after purchasing an additional 11,155,572 shares in the last quarter. Cooper Creek Partners Management LLC raised its stake in shares of Almonty Industries by 110.4% during the 1st quarter. Cooper Creek Partners Management LLC now owns 4,781,415 shares of the company's stock worth $69,235,000 after purchasing an additional 2,508,478 shares in the last quarter. Encompass Capital Advisors LLC lifted its holdings in shares of Almonty Industries by 47.9% during the 1st quarter. Encompass Capital Advisors LLC now owns 4,300,839 shares of the company's stock valued at $62,276,000 after buying an additional 1,392,806 shares during the last quarter. Next Century Growth Investors LLC acquired a new stake in shares of Almonty Industries during the 4th quarter valued at about $16,345,000. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Almonty Industries in the 3rd quarter valued at approximately $7,839,000.

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.

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