Almonty Industries (NASDAQ:ALM) Announces Earnings Results

Almonty Industries (NASDAQ:ALM) issued its quarterly earnings data on Thursday. The company reported ($0.43) earnings per share (EPS) for the quarter, Briefing.com reports. Almonty Industries had a negative return on equity of 52.96% and a negative net margin of 213.60%.

Almonty Industries Price Performance

ALM stock traded down $0.94 on Thursday, reaching $16.84. 3,958,154 shares of the company’s stock were exchanged, compared to its average volume of 5,070,369. The stock has a fifty day moving average of $14.36 and a 200-day moving average of $9.51. The firm has a market cap of $4.72 billion and a PE ratio of -72.82. The company has a quick ratio of 2.25, a current ratio of 2.38 and a debt-to-equity ratio of 1.02. Almonty Industries has a twelve month low of $3.16 and a twelve month high of $22.55.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ALM shares. B. Riley Financial upped their target price on shares of Almonty Industries from $10.00 to $17.00 and gave the company a “buy” rating in a report on Friday, February 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Almonty Industries in a report on Monday, December 29th. Finally, DA Davidson set a $25.00 price target on Almonty Industries in a research report on Friday, March 6th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $15.13.

Institutional Investors Weigh In On Almonty Industries

Institutional investors have recently made changes to their positions in the stock. Banque Cantonale Vaudoise purchased a new position in shares of Almonty Industries in the 3rd quarter valued at about $54,000. Van ECK Associates Corp acquired a new stake in shares of Almonty Industries in the third quarter valued at about $506,000. Mackenzie Financial Corp purchased a new stake in Almonty Industries during the third quarter worth about $422,000. Sei Investments Co. acquired a new position in Almonty Industries during the third quarter worth about $2,563,000. Finally, Boston Partners acquired a new position in Almonty Industries during the third quarter worth about $771,000.

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.