Swiss National Bank Boosts Position in Almonty Industries Inc. $ALM

Swiss National Bank raised its position in Almonty Industries Inc. (NASDAQ:ALM) by 17.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 366,700 shares of the company’s stock after acquiring an additional 53,300 shares during the quarter. Swiss National Bank owned approximately 0.13% of Almonty Industries worth $5,328,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ALM. Rockefeller Capital Management L.P. increased its position in shares of Almonty Industries by 30.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,333 shares of the company’s stock valued at $38,000 after purchasing an additional 1,000 shares during the last quarter. Leonteq Securities AG purchased a new position in shares of Almonty Industries in the first quarter worth approximately $29,000. Serenus Wealth Advisors LLC boosted its holdings in shares of Almonty Industries by 11.0% in the fourth quarter. Serenus Wealth Advisors LLC now owns 22,200 shares of the company’s stock worth $196,000 after buying an additional 2,200 shares during the last quarter. Global Retirement Partners LLC bought a new stake in Almonty Industries during the fourth quarter valued at approximately $35,000. Finally, MCF Advisors LLC increased its holdings in Almonty Industries by 40.8% during the fourth quarter. MCF Advisors LLC now owns 14,084 shares of the company’s stock valued at $124,000 after buying an additional 4,084 shares during the last quarter.

Almonty Industries Price Performance

NASDAQ ALM opened at $10.95 on Thursday. Almonty Industries Inc. has a 12 month low of $3.30 and a 12 month high of $24.41. The stock has a market cap of $3.15 billion and a price-to-earnings ratio of -21.90. The company’s 50 day moving average is $16.62 and its two-hundred day moving average is $16.53. 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 posted its quarterly earnings results on Monday, May 11th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. The business 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%. As a group, research analysts anticipate that Almonty Industries Inc. will post 0.46 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on ALM shares. Oppenheimer increased their price target on shares of Almonty Industries from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. DA Davidson raised their target price on Almonty Industries from $25.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Almonty Industries in a research report on Thursday, June 18th. Finally, Texas Capital upgraded Almonty Industries to a “strong-buy” rating in a research report on Thursday, April 16th. One 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $21.88.

Almonty Industries Profile

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.