Almonty Industries (NASDAQ:ALM) Announces Earnings Results

Almonty Industries (NASDAQ:ALM) posted its earnings results on Thursday. The company reported ($0.43) EPS for the quarter, Briefing.com reports. Almonty Industries had a negative return on equity of 52.96% and a negative net margin of 213.60%.

Almonty Industries Stock Performance

ALM traded down $1.16 during trading on Thursday, hitting $16.62. The stock had a trading volume of 2,612,502 shares, compared to its average volume of 5,032,387. The firm has a market cap of $4.66 billion and a PE ratio of -70.34. Almonty Industries has a 12 month low of $3.16 and a 12 month high of $22.55. The company has a current ratio of 2.38, a quick ratio of 2.25 and a debt-to-equity ratio of 1.02. The company has a 50 day simple moving average of $14.36 and a 200-day simple moving average of $9.51.

Institutional Investors Weigh In On Almonty Industries

Hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC acquired a new stake in shares of Almonty Industries in the fourth quarter valued at about $35,000. State of Wyoming acquired a new position in shares of Almonty Industries during the 4th quarter worth about $41,000. Banque Cantonale Vaudoise bought a new stake in Almonty Industries during the 3rd quarter valued at approximately $54,000. Scientech Research LLC bought a new stake in Almonty Industries during the 3rd quarter valued at approximately $75,000. Finally, Deutsche Bank AG acquired a new stake in Almonty Industries in the 4th quarter valued at approximately $79,000.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ALM. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Almonty Industries in a research report on Monday, December 29th. DA Davidson set a $25.00 price objective on Almonty Industries in a research note on Friday, March 6th. Finally, B. Riley Financial boosted their target price on Almonty Industries from $10.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $15.13.

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.