Almonty Industries (NASDAQ:ALM) Sets New 1-Year High - What's Next?

Key Points

• Almonty Industries reached a new 52-week high of $6.09 during trading, closing at $6.04 with a trading volume of 340,608 shares.
• Cantor Fitzgerald initiated coverage on Almonty, giving it an "overweight" rating with a price target of $6.50, contributing to a consensus "Buy" rating among analysts.
• The company reported a loss of $0.05 EPS for the most recent quarter, missing estimates, while also indicating a negative net margin of 366.52% and a high debt-to-equity ratio of 16.37.

Almonty Industries Inc. (NASDAQ:ALM - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The company traded as high as $6.09 and last traded at $6.04, with a volume of 340608 shares traded. The stock had previously closed at $5.93.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald started coverage on shares of Almonty Industries in a report on Wednesday, August 13th. They issued 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, the company has a consensus rating of "Buy" and an average target price of $6.50.

Almonty Industries Stock Up 2.7%

The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 16.37. The company has a market cap of $1.32 billion and a PE ratio of -17.91.

Almonty Industries (NASDAQ:ALM - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.04). The company had revenue of $5.20 million during the quarter, compared to the consensus estimate 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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.