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

Key Points

• Almonty Industries shares hit a new 52-week high of $5.57, with a closing price of $5.56 and a trading volume of 304,647 shares.
• Investment firm Cantor Fitzgerald initiated coverage on Almonty with an "overweight" rating and a target price of $6.50, contributing to a general consensus of a "Buy" rating among analysts.
• Despite the positive stock performance, Almonty reported a loss of ($0.05) earnings per share and missed revenue expectations with $5.20 million against a forecast of $5.30 million.

Shares of Almonty Industries Inc. (NASDAQ:ALM - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $5.57 and last traded at $5.56, with a volume of 304647 shares changing hands. The stock had previously closed at $5.30.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald assumed coverage on Almonty Industries in a report on Wednesday, August 13th. They set an "overweight" rating and a $6.50 price objective for the company. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Almonty Industries has an average rating of "Buy" and an average target price of $6.50.

Almonty Industries Price Performance

The company has a debt-to-equity ratio of 16.37, a current ratio of 0.77 and a quick ratio of 0.63. The stock has a market capitalization of $1.22 billion and a P/E ratio of -16.47.

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

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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