Almonty Industries Inc. $ALM Shares Purchased by Cooper Creek Partners Management LLC

Key Points

• Cooper Creek Partners Management LLC more than doubled its stake in Almonty Industries in the first quarter, buying an additional 2.51 million shares to bring its total holdings to 4.78 million shares, worth about $69.2 million.
• Almonty shares were down 5.9% on Friday, opening at $13.34, while the stock remains well below its 52-week high of $24.41 and above its 52-week low of $3.16.
• The company recently reported Q1 earnings of $0.01 per share, matching expectations, on revenue of $18.52 million, which topped estimates; analysts currently rate the stock a Moderate Buy with a consensus price target of $21.88.

Cooper Creek Partners Management LLC grew its holdings in shares of Almonty Industries Inc. (NASDAQ:ALM - Free Report) by 110.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,781,415 shares of the company's stock after buying an additional 2,508,478 shares during the quarter. Almonty Industries accounts for 2.4% of Cooper Creek Partners Management LLC's portfolio, making the stock its 12th largest position. Cooper Creek Partners Management LLC owned about 1.69% of Almonty Industries worth $69,235,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Leonteq Securities AG purchased a new position in shares of Almonty Industries in the 1st quarter valued at $29,000. Global Retirement Partners LLC acquired a new position in shares of Almonty Industries during the 4th quarter valued at $35,000. Rockefeller Capital Management L.P. boosted 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 purchasing an additional 1,000 shares during the period. State of Wyoming purchased a new stake in Almonty Industries during the 4th quarter worth $41,000. Finally, Banque Cantonale Vaudoise purchased a new stake in Almonty Industries during the 3rd quarter worth $54,000.

Almonty Industries Trading Down 5.9%

NASDAQ ALM opened at $13.34 on Friday. The company's fifty day simple moving average is $16.93 and its 200-day simple moving average is $16.43. Almonty Industries Inc. has a 52 week low of $3.16 and a 52 week high of $24.41. The company has a current ratio of 2.45, a quick ratio of 2.37 and a debt-to-equity ratio of 0.30. The stock has a market cap of $3.84 billion and a P/E ratio of -26.68.

Almonty Industries (NASDAQ:ALM - Get Free Report) last announced its earnings results on Monday, May 11th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The business 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 research analysts predict that Almonty Industries Inc. will post 0.46 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on ALM shares. DA Davidson raised their price objective on Almonty Industries from $25.00 to $33.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Weiss Ratings restated a "sell (d-)" rating on shares of Almonty Industries in a research note on Thursday, June 18th. Oppenheimer upped 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 research note on Thursday, April 16th. One research 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 company. Based on data from MarketBeat, Almonty Industries has an average rating of "Moderate Buy" and a consensus price target of $21.88.

Almonty Industries 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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