Next Century Growth Investors LLC Takes $16.35 Million Position in Almonty Industries Inc. $ALM

Next Century Growth Investors LLC bought a new stake in Almonty Industries Inc. (NASDAQ:ALM) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 1,855,260 shares of the company’s stock, valued at approximately $16,345,000.

A number of other hedge funds also recently modified their holdings of ALM. Van ECK Associates Corp lifted its holdings in shares of 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. Telemark Asset Management LLC purchased a new stake in shares of Almonty Industries in the third quarter valued at $7,839,000. Alyeska Investment Group L.P. purchased a new stake in shares of Almonty Industries in the third quarter valued at $7,839,000. ArrowMark Colorado Holdings LLC purchased a new stake in shares of Almonty Industries in the third quarter valued at $7,807,000. Finally, Marshall Wace LLP lifted its holdings in shares of Almonty Industries by 7,507.2% in the fourth quarter. Marshall Wace LLP now owns 1,274,353 shares of the company’s stock valued at $11,227,000 after purchasing an additional 1,257,601 shares in the last quarter.

Almonty Industries Price Performance

NASDAQ ALM opened at $17.68 on Friday. Almonty Industries Inc. has a fifty-two week low of $3.16 and a fifty-two week high of $24.41. The stock’s 50-day moving average is $19.39 and its two-hundred day moving average is $14.70. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.45 and a quick ratio of 2.37. The firm has a market cap of $5.05 billion and a P/E ratio of -35.36.

Almonty Industries (NASDAQ:ALM) last posted 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. Almonty Industries had a negative return on equity of 11.01% and a negative net margin of 262.29%.The company had revenue of $18.52 million for the quarter, compared to analyst estimates of $15.44 million. On average, analysts anticipate that Almonty Industries Inc. will post 0.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ALM shares. Oppenheimer increased their target price on Almonty Industries from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. B. Riley Financial increased their target price on Almonty Industries from $17.00 to $23.00 and gave the company a “buy” rating in a report on Friday, March 20th. DA Davidson restated a “buy” rating and issued a $25.00 target price on shares of Almonty Industries in a report on Thursday, March 26th. 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 given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.88.

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.