Almonty Industries (NASDAQ:ALM) Shares Down 6.7% – Should You Sell?

Almonty Industries Inc. (NASDAQ:ALM)’s stock price dropped 6.7% during mid-day trading on Monday . The company traded as low as $15.52 and last traded at $15.4990. 1,110,438 shares were traded during trading, a decline of 79% from the average session volume of 5,383,036 shares. The stock had previously closed at $16.61.

Trending Headlines about Almonty Industries

Here are the key news stories impacting Almonty Industries this week:

• Positive Sentiment: Almonty expanded its long-term offtake agreement with Global Tungsten & Powders, lifting contracted annual revenue at current pricing to about US$490 million, extending the deal from 15 to 21 years, and increasing contracted volume by 40%. Article Title
• Positive Sentiment: The company’s supply agreement extension was widely highlighted in market coverage, reinforcing investor confidence in future cash flow visibility and project de-risking. Article Title
• Positive Sentiment: Zacks upgraded Almonty Industries to Rank #2 (Buy), signaling improving earnings expectations and adding a supportive near-term catalyst for the stock. Article Title
• Neutral Sentiment: Recent commentary comparing Almonty with other basic materials stocks appears to be informational rather than a direct stock-specific catalyst. Article Title
• Negative Sentiment: Earlier coverage noted a sharp one-day decline in ALM before the latest announcement, indicating volatility and some lingering investor caution. Article Title

Wall Street Analysts Forecast Growth

ALM has been the topic of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Almonty Industries in a research note on Thursday, June 18th. Texas Capital raised shares of Almonty Industries to a “strong-buy” rating in a research note on Thursday, April 16th. Oppenheimer lifted their price objective on shares of Almonty Industries from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. B. Riley Financial lifted their price objective 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, DA Davidson boosted their price objective on shares of Almonty Industries from $25.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.88.

Almonty Industries Price Performance

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 company has a fifty day moving average price of $17.88 and a two-hundred day moving average price of $16.20. The company has a market cap of $4.51 billion and a P/E ratio of -31.58.

Almonty Industries (NASDAQ:ALM) last released its earnings results 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 return on equity of 11.01% and a negative net margin of 262.29%.The business had revenue of $18.52 million for the quarter, compared to analyst estimates of $15.44 million. On average, sell-side analysts anticipate that Almonty Industries Inc. will post 0.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Almonty Industries

A number of institutional investors and hedge funds have recently made changes to their positions in ALM. Van ECK Associates Corp grew its stake in shares of Almonty Industries by 13,294.7% in the fourth quarter. Van ECK Associates Corp now owns 11,239,482 shares of the company’s stock valued at $99,013,000 after buying an additional 11,155,572 shares in the last quarter. Cooper Creek Partners Management LLC raised its position in 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 acquiring an additional 2,508,478 shares in the last quarter. Encompass Capital Advisors LLC raised its position in Almonty Industries by 47.9% during the first quarter. Encompass Capital Advisors LLC now owns 4,300,839 shares of the company’s stock worth $62,276,000 after acquiring an additional 1,392,806 shares in the last quarter. Next Century Growth Investors LLC acquired a new stake in Almonty Industries in the fourth quarter valued at $16,345,000. Finally, Alyeska Investment Group L.P. acquired a new stake in Almonty Industries in the third quarter valued at $7,839,000.

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.