Almonty Industries (NASDAQ:ALM) Reaches New 52-Week High - Here's What Happened

Key Points

• Almonty Industries shares reached a new 52-week high of $8.85 during trading, closing at $8.62 with notable trading volume.
• Analysts' ratings for Almonty Industries vary, with DA Davidson increasing their price target to $11 and a consensus rating of "Hold" among analysts.
• The company's recent quarterly earnings report showed a loss per share of ($0.05), falling short of estimates, alongside a negative net margin of 366.52%.

Shares of Almonty Industries Inc. (NASDAQ:ALM - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $8.85 and last traded at $8.62, with a volume of 615542 shares changing hands. The stock had previously closed at $7.75.

Analysts Set New Price Targets

Several brokerages have commented on ALM. DA Davidson boosted their price target on shares of Almonty Industries from $7.00 to $11.00 and gave the stock a "buy" rating in a research report on Tuesday, October 7th. Cantor Fitzgerald assumed coverage on Almonty Industries in a report on Wednesday, August 13th. They issued an "overweight" rating and a $6.50 price objective for the company. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Almonty Industries in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $8.75.

Almonty Industries Stock Up 7.2%

The company has a market capitalization of $1.81 billion and a price-to-earnings ratio of -24.44. 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 has a 50-day moving average price of $5.18.

Almonty Industries (NASDAQ:ALM - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The firm had revenue of $5.20 million for the quarter, compared to analysts' expectations of $5.30 million. Almonty Industries had a negative net margin of 366.52% and a negative return on equity of 104.72%.

About Almonty Industries

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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