Almonty Industries (NASDAQ:ALM) Trading Down 9.4% – Time to Sell?

Almonty Industries Inc. (NASDAQ:ALM) shares dropped 9.4% on Wednesday . The company traded as low as $16.63 and last traded at $16.4850. 2,303,205 shares traded hands during trading, a decline of 56% from the average session volume of 5,259,928 shares. The stock had previously closed at $18.19.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. B. Riley Financial increased their price objective on shares of Almonty Industries from $17.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Almonty Industries in a research note on Thursday, June 18th. Texas Capital upgraded shares of Almonty Industries to a “strong-buy” rating in a research note on Thursday, April 16th. Oppenheimer lifted their price objective on Almonty Industries from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Finally, DA Davidson reiterated a “buy” rating and issued a $25.00 price objective on shares of Almonty Industries in a research note on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Almonty Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.88.

Almonty Industries Trading Down 1.7%

The company’s fifty day moving average price is $19.46 and its two-hundred day moving average price is $15.48. The company has a current ratio of 2.45, a quick ratio of 2.37 and a debt-to-equity ratio of 0.30. The firm has a market cap of $4.62 billion and a P/E ratio of -32.46.

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

Institutional Investors Weigh In On Almonty Industries

A number of large investors have recently bought and sold shares of ALM. Van ECK Associates Corp raised its position in Almonty Industries by 13,294.7% in the 4th quarter. Van ECK Associates Corp now owns 11,239,482 shares of the company’s stock valued at $99,013,000 after purchasing an additional 11,155,572 shares during the last quarter. Cooper Creek Partners Management LLC grew its holdings in shares of Almonty Industries by 110.4% during 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. Encompass Capital Advisors LLC increased its stake in shares of Almonty Industries by 47.9% in the first quarter. Encompass Capital Advisors LLC now owns 4,300,839 shares of the company’s stock valued at $62,276,000 after buying an additional 1,392,806 shares in the last quarter. Next Century Growth Investors LLC bought a new position in shares of Almonty Industries in the fourth quarter valued at about $16,345,000. Finally, Alyeska Investment Group L.P. acquired a new position in Almonty Industries during the 3rd quarter worth about $7,839,000.

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.