Pictet Asset Management Holding SA Raises Stock Holdings in Almonty Industries Inc. $ALM

Pictet Asset Management Holding SA lifted its holdings in shares of Almonty Industries Inc. (NASDAQ:ALM) by 300.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 107,922 shares of the company’s stock after buying an additional 80,997 shares during the period. Pictet Asset Management Holding SA’s holdings in Almonty Industries were worth $1,564,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Global Retirement Partners LLC acquired a new position in Almonty Industries during the 4th quarter worth approximately $35,000. Rockefeller Capital Management L.P. boosted its stake 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 valued at $38,000 after buying an additional 1,000 shares in the last quarter. State of Wyoming acquired a new stake in Almonty Industries in the fourth quarter valued at $41,000. FNY Investment Advisers LLC purchased a new stake in shares of Almonty Industries during the 3rd quarter worth $30,000. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of Almonty Industries during the 3rd quarter worth $54,000.

Almonty Industries Stock Performance

NASDAQ:ALM opened at $15.71 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.45 and a quick ratio of 2.37. The firm has a market cap of $4.48 billion and a PE ratio of -31.42. The firm has a 50 day simple moving average of $18.67 and a 200-day simple moving average of $15.86. Almonty Industries Inc. has a 1-year low of $3.16 and a 1-year high of $24.41.

Almonty Industries (NASDAQ:ALM) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate 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, equities analysts expect that Almonty Industries Inc. will post 0.46 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on ALM shares. Texas Capital upgraded shares of Almonty Industries to a “strong-buy” rating in a research note on Thursday, April 16th. B. Riley Financial increased their target price 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. 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. Oppenheimer boosted their price target on Almonty Industries from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Almonty Industries in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Almonty Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.88.

Almonty Industries Company 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.