Almonty Industries Inc. $ALM Shares Sold by Sei Investments Co.

Sei Investments Co. reduced its position in Almonty Industries Inc. (NASDAQ:ALM) by 56.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 216,039 shares of the company’s stock after selling 274,430 shares during the period. Sei Investments Co.’s holdings in Almonty Industries were worth $3,128,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Walleye Capital LLC acquired a new stake in Almonty Industries in the first quarter valued at $12,953,000. Swiss National Bank raised its stake in shares of Almonty Industries by 17.0% during the 1st quarter. Swiss National Bank now owns 366,700 shares of the company’s stock worth $5,328,000 after buying an additional 53,300 shares during the last quarter. Saxon Interests Inc. acquired a new position in shares of Almonty Industries during the 1st quarter worth $161,000. Oxbow Advisors LLC purchased a new stake in shares of Almonty Industries in the 1st quarter worth about $3,763,000. Finally, Leonteq Securities AG purchased a new stake in shares of Almonty Industries in the 1st quarter worth about $29,000.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. 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 research note on Wednesday, June 3rd. DA Davidson lifted their target price on shares of Almonty Industries from $25.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Almonty Industries in a report on Thursday, June 18th. Finally, Texas Capital upgraded shares of Almonty Industries to a “strong-buy” rating in a research report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Almonty Industries presently has an average rating of “Moderate Buy” and a consensus price target of $21.88.

Almonty Industries Stock Up 5.7%

Shares of NASDAQ ALM opened at $14.18 on Friday. The firm has a market cap of $4.09 billion and a P/E ratio of -28.36. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.37 and a current ratio of 2.45. Almonty Industries Inc. has a 1 year low of $3.97 and a 1 year high of $24.41. The firm’s 50 day moving average price is $15.68 and its 200 day moving average price is $16.67.

Almonty Industries (NASDAQ:ALM) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. Almonty Industries had a negative return on equity of 11.01% and a negative net margin of 262.29%.The company had revenue of $18.52 million during the quarter, compared to the consensus estimate of $15.44 million. As a group, sell-side analysts anticipate 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.