Almonty Industries Inc. (NASDAQ:ALM) Short Interest Update

Almonty Industries Inc. (NASDAQ:ALM) was the recipient of a significant drop in short interest in April. As of April 30th, there was short interest totaling 3,263,597 shares, a drop of 41.1% from the April 15th total of 5,538,703 shares. Based on an average trading volume of 4,997,628 shares, the days-to-cover ratio is currently 0.7 days. Approximately 1.2% of the company’s stock are short sold.

Institutional Trading of Almonty Industries

A number of large investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company grew its stake in shares of Almonty Industries by 23.5% in the first quarter. The Manufacturers Life Insurance Company now owns 57,031 shares of the company’s stock worth $826,000 after acquiring an additional 10,849 shares during the period. Cooper Creek Partners Management LLC boosted its holdings in Almonty Industries by 110.4% in the first 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 during the last quarter. Public Employees Retirement System of Ohio grew its position in Almonty Industries by 15.4% in the 1st quarter. Public Employees Retirement System of Ohio now owns 38,942 shares of the company’s stock worth $565,000 after purchasing an additional 5,191 shares during the period. Walleye Capital LLC bought a new stake in Almonty Industries in the 1st quarter worth approximately $12,953,000. Finally, Swiss National Bank raised its stake in Almonty Industries by 17.0% during the 1st quarter. Swiss National Bank now owns 366,700 shares of the company’s stock valued at $5,328,000 after buying an additional 53,300 shares during the last quarter.

Almonty Industries Stock Down 4.9%

ALM stock opened at $17.45 on Friday. The stock has a market capitalization of $4.95 billion and a P/E ratio of -34.90. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.45 and a quick ratio of 3.76. Almonty Industries has a 1-year low of $3.16 and a 1-year high of $24.41. The business has a fifty day moving average price of $19.06 and a 200-day moving average price of $13.05.

Almonty Industries (NASDAQ:ALM) last released its quarterly earnings data on Monday, May 11th. The company reported $0.01 EPS 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 analysts’ expectations of $15.44 million. Equities analysts forecast that Almonty Industries will post 0.62 earnings per share for the current fiscal year.

Trending Headlines about Almonty Industries

Here are the key news stories impacting Almonty Industries this week:

• Positive Sentiment: Diamond Equity raised Almonty Industries’ earnings estimates across several upcoming quarters and full-year periods, signaling stronger expected profitability. MarketBeat ALM analyst estimate updates
• Positive Sentiment: Another analyst update increased Almonty Industries’ price target by 13.23% to $16.41, reinforcing a more optimistic outlook for the shares. Article: Almonty Industries (ALM) price target increased by 13.23% to 16.41

Analyst Upgrades and Downgrades

ALM has been the topic of a number of analyst reports. B. Riley Financial upped their price target 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. Texas Capital raised shares of Almonty Industries to a “strong-buy” rating in a report on Thursday, April 16th. DA Davidson reiterated a “buy” rating and issued a $25.00 target price on shares of Almonty Industries in a research note on Thursday, March 26th. Finally, Oppenheimer increased their price target on shares of Almonty Industries from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.38.

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.