Royce & Associates LP Makes New Investment in Almonty Industries Inc. $ALM

Royce & Associates LP purchased a new position in shares of Almonty Industries Inc. (NASDAQ:ALM) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 835,000 shares of the company’s stock, valued at approximately $7,356,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new stake in Almonty Industries during the fourth quarter worth about $35,000. FNY Investment Advisers LLC bought a new stake in Almonty Industries during the third quarter worth about $30,000. Banque Cantonale Vaudoise bought a new stake in Almonty Industries during the third quarter worth about $54,000. MCF Advisors LLC bought a new stake in Almonty Industries during the third quarter worth about $60,000. Finally, Oppenheimer & Co. Inc. bought a new stake in Almonty Industries during the third quarter worth about $66,000.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Oppenheimer lifted their price target on Almonty Industries from $16.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, March 20th. Texas Capital raised Almonty Industries to a “strong-buy” rating in a research note on Thursday, April 16th. DA Davidson reiterated a “buy” rating and issued a $25.00 price objective on shares of Almonty Industries in a report on Thursday, March 26th. Finally, B. Riley Financial lifted their price objective on Almonty Industries from $17.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, March 20th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $18.38.

Almonty Industries Stock Up 1.8%

ALM opened at $20.70 on Friday. The company has a market cap of $5.87 billion and a P/E ratio of -41.40. The business’s 50-day moving average price is $18.86 and its 200-day moving average price is $13.86. The company has a current ratio of 2.45, a quick ratio of 2.37 and a debt-to-equity ratio of 0.30. Almonty Industries Inc. has a 12 month low of $3.16 and a 12 month high of $24.41.

Almonty Industries (NASDAQ:ALM) last released its quarterly earnings data on Monday, May 11th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $18.52 million for the quarter, compared to the consensus estimate of $15.44 million. Almonty Industries had a negative return on equity of 11.01% and a negative net margin of 262.29%. On average, equities analysts expect that Almonty Industries Inc. will post 0.71 EPS for the current year.

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.