Element Capital Management LLC Purchases Shares of 210,513 Almonty Industries Inc. $ALM

Element Capital Management LLC acquired a new position in Almonty Industries Inc. (NASDAQ:ALM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 210,513 shares of the company’s stock, valued at approximately $1,855,000. Almonty Industries comprises about 0.9% of Element Capital Management LLC’s holdings, making the stock its 28th largest holding. Element Capital Management LLC owned approximately 0.08% of Almonty Industries as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Oppenheimer & Co. Inc. acquired a new stake in Almonty Industries in the third quarter valued at approximately $66,000. PNC Financial Services Group Inc. acquired a new position in shares of Almonty Industries during the third quarter worth $157,000. Serenus Wealth Advisors LLC purchased a new stake in shares of Almonty Industries during the 3rd quarter valued at $121,000. Telemark Asset Management LLC purchased a new stake in Almonty Industries in the third quarter valued at about $7,839,000. Finally, TD Asset Management Inc acquired a new stake in Almonty Industries in the third quarter worth about $913,000.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. DA Davidson restated a “buy” rating and set a $25.00 price target on shares of Almonty Industries in a research note on Thursday, March 26th. B. Riley Financial lifted their target price on shares of Almonty Industries from $17.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Oppenheimer upped their price target on shares of Almonty Industries from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. Finally, Texas Capital raised shares of Almonty Industries to a “strong-buy” rating in a report on Thursday, April 16th. One equities 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.88.

Almonty Industries Trading Down 1.6%

Shares of NASDAQ:ALM opened at $18.28 on Thursday. 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 Inc. has a 52-week low of $3.16 and a 52-week high of $24.41. The stock has a market cap of $5.22 billion and a price-to-earnings ratio of -36.56. The business has a 50-day moving average price of $19.54 and a 200-day moving average price of $15.02.

Almonty Industries (NASDAQ:ALM) last issued its earnings results 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. Equities analysts predict that Almonty Industries Inc. will post 0.46 EPS for the current year.

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.