Walleye Capital LLC Takes $12.95 Million Position in Almonty Industries Inc. $ALM

Key Points

• Walleye Capital LLC opened a new position in Almonty Industries in the first quarter, buying 894,558 shares valued at about $12.95 million. The stake represented roughly 0.32% of the company.
• Several other institutional investors also increased or initiated positions, including the Swiss National Bank and Pictet Asset Management, signaling continued institutional interest in the stock.
• Analysts remain mixed but mostly positive: Almonty has a Moderate Buy consensus rating with an average target price of $21.88, even as the stock was trading down 4.7% at $14.29.

Walleye Capital LLC purchased a new stake in Almonty Industries Inc. (NASDAQ:ALM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 894,558 shares of the company's stock, valued at approximately $12,953,000. Walleye Capital LLC owned approximately 0.32% of Almonty Industries as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ALM. Swiss National Bank boosted its position in Almonty Industries by 17.0% during the first quarter. Swiss National Bank now owns 366,700 shares of the company's stock worth $5,328,000 after purchasing an additional 53,300 shares in the last quarter. Saxon Interests Inc. purchased a new stake in shares of Almonty Industries in the first quarter valued at approximately $161,000. Oxbow Advisors LLC acquired a new position in shares of Almonty Industries during the 1st quarter worth approximately $3,763,000. Leonteq Securities AG acquired a new position in shares of Almonty Industries during the 1st quarter worth approximately $29,000. Finally, Pictet Asset Management Holding SA lifted its position in shares of Almonty Industries by 300.8% during the 1st quarter. Pictet Asset Management Holding SA now owns 107,922 shares of the company's stock valued at $1,564,000 after buying an additional 80,997 shares in the last quarter.

Analysts Set New Price Targets

ALM has been the topic of a number of research analyst reports. DA Davidson lifted their price target on shares of Almonty Industries from $25.00 to $33.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Texas Capital upgraded shares of Almonty Industries to a "strong-buy" rating in a research report on Thursday, April 16th. Oppenheimer upped 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. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Almonty Industries in a report on Thursday, June 18th. One 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 stock. According to MarketBeat, Almonty Industries has a consensus rating of "Moderate Buy" and an average target price of $21.88.

Almonty Industries Stock Down 4.7%

Shares of NASDAQ ALM opened at $14.29 on Thursday. The company has a market capitalization of $4.12 billion and a P/E ratio of -28.58. 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 company has a 50 day simple moving average of $17.10 and a 200-day simple moving average of $16.41. Almonty Industries Inc. has a 1 year low of $3.16 and a 1 year high of $24.41.

Almonty Industries (NASDAQ:ALM - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The company reported $0.01 EPS for the quarter, meeting analysts' consensus estimates of $0.01. The firm had revenue of $18.52 million for 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 research analysts predict that Almonty Industries Inc. will post 0.46 earnings per share for the current year.

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.

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