Almonty Industries Inc. (NASDAQ:ALM) Short Interest Down 41.1% in April

Almonty Industries Inc. (NASDAQ:ALM) saw a significant decline in short interest during the month of April. As of April 30th, there was short interest totaling 3,263,597 shares, a decline of 41.1% from the April 15th total of 5,538,703 shares. Based on an average trading volume of 4,997,628 shares, the short-interest ratio is currently 0.7 days. Currently, 1.2% of the shares of the stock are sold short.

Institutional Trading of Almonty Industries

A number of large investors have recently added to or reduced their stakes in the company. Encompass Capital Advisors LLC lifted its stake in 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 acquiring an additional 1,392,806 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Almonty Industries by 23.5% in the first quarter. The Manufacturers Life Insurance Company now owns 57,031 shares of the company’s stock valued at $826,000 after purchasing an additional 10,849 shares during the period. Cooper Creek Partners Management LLC raised its position in shares of Almonty Industries by 110.4% in the first quarter. Cooper Creek Partners Management LLC now owns 4,781,415 shares of the company’s stock valued at $69,235,000 after purchasing an additional 2,508,478 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Almonty Industries by 15.4% in the first quarter. Public Employees Retirement System of Ohio now owns 38,942 shares of the company’s stock valued at $565,000 after purchasing an additional 5,191 shares during the period. Finally, Walleye Capital LLC bought a new position in shares of Almonty Industries in the first quarter valued at about $12,953,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ALM shares. DA Davidson reiterated a “buy” rating and set a $25.00 price target on shares of Almonty Industries in a research report on Thursday, March 26th. Texas Capital upgraded shares of Almonty Industries to a “strong-buy” rating in a report on Thursday, April 16th. B. Riley Financial upped their price target on shares of Almonty Industries from $17.00 to $23.00 and gave the company a “buy” rating in a report on Friday, March 20th. Finally, Oppenheimer lifted their price objective on shares of Almonty Industries from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.38.

Almonty Industries Stock Down 1.1%

ALM traded down $0.20 during trading hours on Monday, hitting $17.25. 1,116,293 shares of the company’s stock were exchanged, compared to its average volume of 5,281,142. The stock has a market cap of $4.89 billion and a price-to-earnings ratio of -34.47. 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’s 50-day moving average is $19.06 and its two-hundred day moving average is $13.10. Almonty Industries has a 1-year low of $3.16 and a 1-year high of $24.41.

Almonty Industries (NASDAQ:ALM) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates 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%. Sell-side analysts predict that Almonty Industries will post 0.62 earnings per share for the current fiscal 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.