Almonty Industries (NASDAQ:ALM) Stock Price Down 6.3% – What’s Next?

Almonty Industries Inc. (NASDAQ:ALM) was down 6.3% during mid-day trading on Wednesday . The stock traded as low as $6.58 and last traded at $6.64. Approximately 1,301,977 shares changed hands during trading, a decline of 30% from the average daily volume of 1,869,098 shares. The stock had previously closed at $7.09.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Almonty Industries in a report on Monday, December 1st. DA Davidson upped their price target on Almonty Industries from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Wall Street Zen upgraded Almonty Industries from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Cantor Fitzgerald initiated coverage on Almonty Industries in a report on Wednesday, August 13th. They set an “overweight” rating and a $6.50 target price for the company. Finally, Oppenheimer increased their target price on shares of Almonty Industries from $7.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Almonty Industries has an average rating of “Moderate Buy” and an average target price of $10.17.

Almonty Industries Stock Down 6.2%

The company has a market cap of $1.55 billion and a price-to-earnings ratio of -28.91. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 16.37. The firm’s 50 day moving average price is $7.06.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ALM. Banque Cantonale Vaudoise acquired a new stake in Almonty Industries during the 3rd quarter valued at $54,000. MCF Advisors LLC purchased a new position in Almonty Industries in the 3rd quarter valued at about $60,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Almonty Industries during the third quarter valued at about $66,000. Fifth Lane Capital LP purchased a new stake in shares of Almonty Industries during the third quarter worth about $75,000. Finally, Scientech Research LLC acquired a new position in shares of Almonty Industries in the third quarter worth about $75,000.

Almonty Industries Company Profile

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.