Almonty Industries (NASDAQ:ALM) Issues Quarterly Earnings Results

Almonty Industries (NASDAQ:ALM) released its quarterly earnings results on Tuesday. The company reported $0.44 EPS for the quarter, FiscalAI reports. Almonty Industries had a negative net margin of 262.29% and a negative return on equity of 11.01%. The company had revenue of $30.26 million for the quarter.

Almonty Industries Stock Performance

ALM stock traded down $0.41 on Tuesday, reaching $13.29. 7,826,633 shares of the company were exchanged, compared to its average volume of 5,602,847. The firm has a market capitalization of $3.83 billion and a PE ratio of -26.58. Almonty Industries has a 12 month low of $3.97 and a 12 month high of $24.41. The stock’s fifty day moving average price is $15.57 and its 200 day moving average price is $16.75. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.45 and a quick ratio of 2.37.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ALM shares. Texas Capital upgraded shares of Almonty Industries to a “strong-buy” rating in a research note on Thursday, April 16th. Oppenheimer boosted their target price on shares of Almonty Industries from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. DA Davidson upped their price target on shares of Almonty Industries from $25.00 to $33.00 and gave the company a “buy” rating in a report on Friday, July 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Almonty Industries in a research report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.88.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Leonteq Securities AG bought a new stake in shares of Almonty Industries in the first quarter valued at about $29,000. Global Retirement Partners LLC bought a new stake in shares of Almonty Industries in the 4th quarter worth approximately $35,000. Rockefeller Capital Management L.P. lifted its position in shares of Almonty Industries by 30.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,333 shares of the company’s stock worth $38,000 after acquiring an additional 1,000 shares during the period. State of Wyoming acquired a new stake in shares of Almonty Industries during the 4th quarter worth approximately $41,000. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Almonty Industries during the third quarter valued at approximately $54,000.

About Almonty Industries

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.