Almonty Industries Inc. $ALM Shares Sold by 1492 Capital Management LLC

1492 Capital Management LLC cut its stake in shares of Almonty Industries Inc. (NASDAQ:ALM) by 63.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,400 shares of the company’s stock after selling 128,953 shares during the period. 1492 Capital Management LLC’s holdings in Almonty Industries were worth $1,092,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ALM. FNY Investment Advisers LLC acquired a new stake in Almonty Industries during the 3rd quarter valued at $30,000. Global Retirement Partners LLC acquired a new position in shares of Almonty Industries in the 4th quarter valued at about $35,000. Rockefeller Capital Management L.P. lifted its position in shares of Almonty Industries by 30.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,333 shares of the company’s stock worth $38,000 after purchasing an additional 1,000 shares in the last quarter. State of Wyoming acquired a new stake in shares of Almonty Industries during the fourth quarter worth approximately $41,000. Finally, Banque Cantonale Vaudoise purchased a new position in Almonty Industries during the third quarter valued at approximately $54,000.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Oppenheimer upped their price objective on shares of Almonty Industries from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. DA Davidson reissued a “buy” rating and set a $25.00 target price on shares of Almonty Industries in a research note on Thursday, March 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Almonty Industries in a report on Thursday, June 18th. B. Riley Financial upped their price target 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. Finally, Texas Capital raised Almonty Industries to a “strong-buy” rating in a research report on Thursday, April 16th. One 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 stock. According to MarketBeat, Almonty Industries has a consensus rating of “Moderate Buy” and a consensus price target of $19.88.

Almonty Industries Price Performance

NASDAQ ALM opened at $16.28 on Friday. Almonty Industries Inc. has a twelve month low of $3.16 and a twelve month high of $24.41. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.37 and a current ratio of 2.45. The stock has a market capitalization of $4.65 billion and a PE ratio of -32.56. The stock has a 50-day simple moving average of $19.36 and a 200 day simple moving average of $15.49.

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