Encompass Capital Advisors LLC Purchases Shares of 2,908,033 Almonty Industries Inc. $ALM

Encompass Capital Advisors LLC acquired a new position in shares of Almonty Industries Inc. (NASDAQ:ALM) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,908,033 shares of the company’s stock, valued at approximately $25,620,000. Encompass Capital Advisors LLC owned 1.11% of Almonty Industries as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. FNY Investment Advisers LLC acquired a new stake in shares of Almonty Industries during the third quarter worth $30,000. Global Retirement Partners LLC acquired a new stake in shares of Almonty Industries in the 4th quarter worth about $35,000. State of Wyoming acquired a new stake in shares of Almonty Industries in the 4th quarter worth about $41,000. Banque Cantonale Vaudoise acquired a new stake in shares of Almonty Industries in the 3rd quarter worth about $54,000. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Almonty Industries during the third quarter valued at about $66,000.

Almonty Industries Price Performance

ALM stock opened at $18.28 on Thursday. The stock has a market cap of $5.22 billion and a PE ratio of -36.56. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.45 and a quick ratio of 2.37. Almonty Industries Inc. has a one year low of $3.16 and a one year high of $24.41. The firm has a 50 day simple moving average of $19.54 and a two-hundred day simple moving average of $15.02.

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

Analyst Ratings Changes

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

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.