Almonty Industries (NASDAQ:ALM) Shares Gap Down – Time to Sell?

by · The Markets Daily

Shares of Almonty Industries Inc. (NASDAQ:ALM – Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $7.90, but opened at $6.84. Almonty Industries shares last traded at $6.90, with a volume of 4,858,606 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Oppenheimer lifted their price objective on shares of Almonty Industries from $7.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. Wall Street Zen upgraded shares of Almonty Industries from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Cantor Fitzgerald began coverage on shares of Almonty Industries in a report on Wednesday, August 13th. They set an “overweight” rating and a $6.50 price objective for the company. DA Davidson lifted their target price on Almonty Industries from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Almonty Industries in a research note on Monday, December 1st. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.17.

View Our Latest Report on Almonty Industries

Almonty Industries Stock Performance

The company has a market cap of $1.62 billion and a P/E ratio of -30.30. The company has a debt-to-equity ratio of 16.37, a quick ratio of 0.63 and a current ratio of 0.77. The business’s fifty day moving average price is $7.04.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Banque Cantonale Vaudoise bought a new position in shares of Almonty Industries during the 3rd quarter worth $54,000. MCF Advisors LLC bought a new stake in shares of Almonty Industries in the 3rd quarter valued at about $60,000. Oppenheimer & Co. Inc. bought a new position in shares of Almonty Industries during the third quarter valued at approximately $66,000. Fifth Lane Capital LP bought a new position in Almonty Industries in the third quarter worth approximately $75,000. Finally, Scientech Research LLC purchased a new stake in Almonty Industries during the third quarter worth $75,000.

About Almonty Industries

(Get Free Report)

Almonty Industries Inc is a producer of tungsten concentrate. The Company is currently mining, processing and shipping tungsten concentrate from its Panasqueira Mine in Portugal. Almonty Industries Inc is based in TORONTO.

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