Connective Portfolio Management LLC Takes Position in Almonty Industries Inc. $ALM

Connective Portfolio Management LLC purchased a new position in shares of Almonty Industries Inc. (NASDAQ:ALM) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 30,000 shares of the company’s stock, valued at approximately $434,000. Almonty Industries comprises approximately 1.2% of Connective Portfolio Management LLC’s holdings, making the stock its 22nd biggest position.

Several other institutional investors and hedge funds have also made changes to their positions in ALM. Global Retirement Partners LLC acquired a new stake in Almonty Industries in the 4th quarter valued at about $35,000. Rockefeller Capital Management L.P. raised its position in 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 last quarter. State of Wyoming purchased a new stake in shares of Almonty Industries in the fourth quarter valued at about $41,000. FNY Investment Advisers LLC purchased a new stake in shares of Almonty Industries in the third quarter valued at about $30,000. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Almonty Industries in the third quarter valued at approximately $54,000.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ALM shares. B. Riley Financial raised their price objective on shares of Almonty Industries from $17.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. DA Davidson reaffirmed a “buy” rating and issued a $25.00 target price on shares of Almonty Industries in a research note on Thursday, March 26th. Oppenheimer upped their target price on Almonty Industries from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. Finally, Texas Capital upgraded Almonty Industries to a “strong-buy” rating in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.88.

Almonty Industries Stock Performance

Almonty Industries stock opened at $18.81 on Friday. The stock has a fifty day moving average price of $19.62 and a 200 day moving average price of $15.13. Almonty Industries Inc. has a 52 week low of $3.16 and a 52 week high of $24.41. The firm has a market capitalization of $5.37 billion and a P/E ratio of -37.62. The company has a current ratio of 2.45, a quick ratio of 2.37 and a debt-to-equity ratio of 0.30.

Almonty Industries (NASDAQ:ALM) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $18.52 million for the quarter, compared to analyst estimates of $15.44 million. Almonty Industries had a negative return on equity of 11.01% and a negative net margin of 262.29%. Equities research analysts anticipate that Almonty Industries Inc. will post 0.46 earnings per share for the current year.

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.