Swiss National Bank Acquires 53,300 Shares of Almonty Industries Inc. $ALM

Swiss National Bank increased its holdings in shares of Almonty Industries Inc. (NASDAQ:ALM) by 17.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 366,700 shares of the company’s stock after acquiring an additional 53,300 shares during the period. Swiss National Bank’s holdings in Almonty Industries were worth $5,328,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Marathon Capital Management raised its position in shares of Almonty Industries by 137.2% during the fourth quarter. Marathon Capital Management now owns 593,515 shares of the company’s stock valued at $5,229,000 after buying an additional 343,280 shares during the last quarter. Intact Investment Management Inc. bought a new position in shares of Almonty Industries during the fourth quarter worth $732,000. Oxbow Advisors LLC purchased a new position in Almonty Industries during the first quarter valued at $3,763,000. Next Century Growth Investors LLC purchased a new position in Almonty Industries during the fourth quarter valued at $16,345,000. Finally, Pictet Asset Management Holding SA increased its holdings in Almonty Industries by 300.8% in the 1st quarter. Pictet Asset Management Holding SA now owns 107,922 shares of the company’s stock valued at $1,564,000 after acquiring an additional 80,997 shares during the last quarter.

Almonty Industries Price Performance

Almonty Industries stock opened at $10.95 on Thursday. The company has a market cap of $3.15 billion and a price-to-earnings ratio of -21.90. The firm’s fifty day moving average is $16.62 and its 200 day moving average is $16.53. The company has a quick ratio of 2.37, a current ratio of 2.45 and a debt-to-equity ratio of 0.30. Almonty Industries Inc. has a 52-week low of $3.30 and a 52-week high of $24.41.

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

Wall Street Analyst Weigh In

ALM has been the subject of several research reports. Oppenheimer increased 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. DA Davidson lifted 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. Texas Capital upgraded Almonty Industries to a “strong-buy” rating in a research report on Thursday, April 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Almonty Industries in a research note on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Almonty Industries has a consensus rating of “Moderate Buy” and a consensus price target 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.