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

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

A number of other large investors have also recently modified their holdings of the stock. Marathon Capital Management purchased a new stake in Almonty Industries during the 3rd quarter valued at $1,509,000. Benin Management CORP purchased a new position in Almonty Industries during the fourth quarter worth $1,068,000. Apis Capital Advisors LLC bought a new position in Almonty Industries during the third quarter valued at $2,040,000. ArrowMark Colorado Holdings LLC bought a new position in Almonty Industries during the third quarter valued at $7,807,000. Finally, Intact Investment Management Inc. purchased a new stake in shares of Almonty Industries in the fourth quarter valued at $732,000.

Almonty Industries Price Performance

NASDAQ:ALM opened at $15.71 on Monday. Almonty Industries Inc. has a fifty-two week low of $3.16 and a fifty-two week high of $24.41. The stock has a market capitalization of $4.48 billion and a P/E ratio of -31.42. 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’s 50-day simple moving average is $18.67 and its 200-day simple moving average is $15.86.

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

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Oppenheimer upped their price target 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. Weiss Ratings restated a “sell (d-)” rating on shares of Almonty Industries in a research report on Thursday, June 18th. Texas Capital raised Almonty Industries to a “strong-buy” rating in a research note on Thursday, April 16th. B. Riley Financial increased their price target on Almonty Industries from $17.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Finally, DA Davidson restated a “buy” rating and set a $25.00 price objective on shares of Almonty Industries in a report on Thursday, March 26th. 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.88.

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.