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

Key Points

• Almonty Industries' stock price increased significantly after DA Davidson raised their price target from $7.00 to $11.00, with a buy rating on the stock.
• Despite an analyst upgrade, Almonty Industries recently reported a loss of $0.05 per share, missing consensus estimates, and had a negative net margin of 366.52%.
• The company, which operates the Panasqueira Mine in Portugal, currently has a market capitalization of $1.63 billion and a consensus target price of $8.75.

Almonty Industries Inc. (NASDAQ:ALM - Get Free Report) shares saw unusually-strong trading volume on Wednesday after DA Davidson raised their price target on the stock from $7.00 to $11.00. DA Davidson currently has a buy rating on the stock. Approximately 1,099,840 shares changed hands during trading, an increase of 1% from the previous session's volume of 1,085,111 shares.The stock last traded at $7.68 and had previously closed at $7.12.

A number of other research analysts have also recently issued reports on ALM. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Almonty Industries in a report on Saturday, September 27th. Cantor Fitzgerald assumed coverage on Almonty Industries in a report on Wednesday, August 13th. They issued an "overweight" rating and a $6.50 price target for the company. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Almonty Industries presently has a consensus rating of "Hold" and a consensus target price of $8.75.

Almonty Industries Trading Up 5.3%

The firm has a market capitalization of $1.63 billion and a price-to-earnings ratio of -22.06. The company has a debt-to-equity ratio of 16.37, a current ratio of 0.77 and a quick ratio of 0.63.

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 the consensus estimate of ($0.01) by ($0.04). The firm had revenue of $5.20 million for the quarter, compared to the consensus estimate of $5.30 million. Almonty Industries had a negative return on equity of 104.72% and a negative net margin of 366.52%.

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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