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Almonty Industries (NASDAQ:ALM) Sees Large Volume Increase After Analyst Upgrade

Almonty Industries logo with Basic Materials background

Key Points

  • Almonty Industries experienced a significant volume increase of 70% after Oppenheimer raised its price target from $7.00 to $12.00, indicating positive investor sentiment.
  • The stock currently holds an average rating of "Moderate Buy" from analysts, with a consensus price target of $9.83, despite a recent sell rating from Weiss Ratings.
  • In its latest earnings report, Almonty reported a loss of ($0.05) per share and revenue of $5.20 million, which fell short of analyst expectations.
  • MarketBeat previews top five stocks to own in November.

Almonty Industries Inc. (NASDAQ:ALM - Get Free Report) shares saw strong trading volume on Wednesday after Oppenheimer raised their price target on the stock from $7.00 to $12.00. Oppenheimer currently has an outperform rating on the stock. 2,384,167 shares traded hands during trading, an increase of 70% from the previous session's volume of 1,406,224 shares.The stock last traded at $10.16 and had previously closed at $9.96.

A number of other analysts also recently commented on the stock. Weiss Ratings reissued a "sell (e+)" rating on shares of Almonty Industries in a report on Wednesday, October 8th. DA Davidson boosted their price objective on shares of Almonty Industries from $7.00 to $11.00 and gave the stock a "buy" rating in a report on Tuesday, October 7th. Finally, Cantor Fitzgerald initiated coverage on shares of Almonty Industries in a report on Wednesday, August 13th. They issued an "overweight" rating and a $6.50 price target on the stock. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $9.83.

Check Out Our Latest Stock Report on ALM

Almonty Industries Price Performance

The firm's 50-day moving average is $5.37. 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 stock has a market capitalization of $2.07 billion and a price-to-earnings ratio of -28.03.

Almonty Industries (NASDAQ:ALM - Get Free Report) last posted 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). The firm had revenue of $5.20 million during the quarter, compared to analyst estimates of $5.30 million. Almonty Industries had a negative net margin of 366.52% and a negative return on equity of 104.72%.

Almonty Industries Company Profile

(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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