Zurcher Kantonalbank Zurich Cantonalbank Makes New Investment in Almonty Industries Inc. $ALM

Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Almonty Industries Inc. (NASDAQ:ALM) in the fourth quarter, Holdings Channel.com reports. The firm acquired 43,703 shares of the company’s stock, valued at approximately $385,000.

A number of other large investors also recently modified their holdings of ALM. Telemark Asset Management LLC bought a new position in shares of Almonty Industries in the third quarter valued at approximately $7,839,000. Alyeska Investment Group L.P. bought a new position in shares of Almonty Industries in the third quarter valued at approximately $7,839,000. ArrowMark Colorado Holdings LLC bought a new position in shares of Almonty Industries in the third quarter valued at approximately $7,807,000. Millennium Management LLC bought a new position in shares of Almonty Industries in the third quarter valued at approximately $5,948,000. Finally, Sei Investments Co. bought a new position in shares of Almonty Industries in the third quarter valued at approximately $2,563,000.

Wall Street Analyst Weigh In

ALM has been the subject of a number of analyst reports. Oppenheimer raised their price objective on shares of Almonty Industries from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, March 20th. B. Riley Financial raised their price objective on shares of Almonty Industries from $17.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Texas Capital upgraded shares of Almonty Industries to a “strong-buy” rating in a research report on Thursday, April 16th. Finally, DA Davidson restated a “buy” rating and issued a $25.00 price objective on shares of Almonty Industries in a research report on Thursday, March 26th. One 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.38.

Almonty Industries Trading Down 5.1%

Shares of Almonty Industries stock opened at $19.54 on Tuesday. Almonty Industries Inc. has a 1 year low of $3.16 and a 1 year high of $24.41. The firm has a market cap of $5.53 billion and a PE ratio of -33.69. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.89 and a quick ratio of 3.76. The company has a 50 day simple moving average of $18.67 and a two-hundred day simple moving average of $12.35.

About Almonty Industries

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.