Almonty Industries (NASDAQ:ALM) Announces Quarterly Earnings Results

Key Points

• Almonty Industries reported a quarterly loss of ($0.05) earnings per share, missing the consensus estimate by ($0.04), with revenue of $5.20 million compared to expectations of $5.30 million.
• The stock price of Almonty Industries fell to $4.48 after the earnings announcement, with a trading volume of 954,751 shares.
• Cantor Fitzgerald initiated coverage on Almonty Industries, giving it an "overweight" rating and setting a target price of $6.50.

Almonty Industries (NASDAQ:ALM - Get Free Report) issued its quarterly earnings data on Thursday. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.04), Zacks reports. The business had revenue of $5.20 million during the quarter, compared to analyst estimates of $5.30 million.

Almonty Industries Stock Performance

Almonty Industries stock traded down $0.23 during midday trading on Friday, reaching $4.48. The stock had a trading volume of 954,751 shares, compared to its average volume of 1,117,060. Almonty Industries has a 12 month low of $3.16 and a 12 month high of $5.50.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald initiated coverage on Almonty Industries in a research note on Wednesday. They set an "overweight" rating and a $6.50 target price on the stock.

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