Manatuck Hill Partners LLC Purchases Shares of 200,000 Almonty Industries Inc. $ALM

Manatuck Hill Partners LLC purchased a new stake in shares of Almonty Industries Inc. (NASDAQ:ALM) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 200,000 shares of the company’s stock, valued at approximately $1,762,000. Manatuck Hill Partners LLC owned approximately 0.08% of Almonty Industries as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Marathon Capital Management bought a new position in Almonty Industries during the 3rd quarter valued at $1,509,000. First Eagle Investment Management LLC bought a new position in Almonty Industries during the 3rd quarter valued at $543,000. Telemark Asset Management LLC bought a new position in Almonty Industries during the 3rd quarter valued at $7,839,000. TD Asset Management Inc bought a new position in Almonty Industries during the 3rd quarter valued at $913,000. Finally, Benin Management CORP bought a new position in Almonty Industries during the 4th quarter valued at $1,068,000.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ALM. DA Davidson reissued a “buy” rating and set a $25.00 price objective on shares of Almonty Industries in a research note on Thursday, March 26th. Texas Capital raised Almonty Industries to a “strong-buy” rating in a research note on Thursday, April 16th. Oppenheimer raised their price objective on Almonty Industries from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. Finally, B. Riley Financial raised their price objective on Almonty Industries from $17.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $19.88.

Almonty Industries Stock Performance

ALM opened at $18.28 on Thursday. The firm has a market cap of $5.22 billion and a PE ratio of -36.56. 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 business has a fifty day simple moving average of $19.54 and a 200-day simple moving average of $15.02. 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 issued its earnings results on Monday, May 11th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $18.52 million during the quarter, compared to analysts’ expectations of $15.44 million. Almonty Industries had a negative return on equity of 11.01% and a negative net margin of 262.29%. As a group, equities analysts predict that Almonty Industries Inc. will post 0.46 EPS for the current fiscal 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.