Oxbow Advisors LLC Invests $3.76 Million in Almonty Industries Inc. $ALM

Oxbow Advisors LLC purchased a new position in shares of Almonty Industries Inc. (NASDAQ:ALM) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 259,846 shares of the company’s stock, valued at approximately $3,763,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALM. Leonteq Securities AG acquired a new position in Almonty Industries in the 1st quarter valued at $29,000. Pictet Asset Management Holding SA lifted its stake in shares of Almonty Industries by 300.8% in the 1st quarter. Pictet Asset Management Holding SA now owns 107,922 shares of the company’s stock worth $1,564,000 after acquiring an additional 80,997 shares during the period. Connective Portfolio Management LLC purchased a new stake in shares of Almonty Industries in the first quarter valued at about $434,000. Rockefeller Capital Management L.P. increased its stake in shares of Almonty Industries by 30.0% during the fourth 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. Finally, Mackenzie Financial Corp increased its stake in shares of Almonty Industries by 59.1% during the fourth quarter. Mackenzie Financial Corp now owns 111,224 shares of the company’s stock worth $982,000 after acquiring an additional 41,331 shares during the period.

Almonty Industries Stock Performance

NASDAQ:ALM opened at $15.71 on Friday. The firm’s fifty day simple moving average is $18.67 and its 200-day simple moving average is $15.80. The company has a quick ratio of 2.37, a current ratio of 2.45 and a debt-to-equity ratio of 0.30. The stock has a market cap of $4.48 billion and a PE ratio of -31.42. Almonty Industries Inc. has a fifty-two week low of $3.16 and a fifty-two week high of $24.41.

Almonty Industries (NASDAQ:ALM) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. The firm had revenue of $18.52 million during the quarter, compared to analysts’ expectations of $15.44 million. Almonty Industries had a negative net margin of 262.29% and a negative return on equity of 11.01%. Analysts expect that Almonty Industries Inc. will post 0.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ALM shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Almonty Industries in a report on Thursday, June 18th. DA Davidson reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Almonty Industries in a report on Thursday, March 26th. B. Riley Financial boosted their target price on Almonty Industries from $17.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Texas Capital raised Almonty Industries to a “strong-buy” rating in a research note on Thursday, April 16th. Finally, Oppenheimer raised their price target on Almonty Industries from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.88.

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.