Almonty Industries (NASDAQ:ALM) Shares Gap Down - What's Next?

Key Points

• Almonty Industries (NASDAQ:ALM) shares gapped down to $7.56 after a previous close of $7.83, with a current trading price of $7.76.
• The company's quarterly earnings missed expectations, reporting a loss of ($0.05) per share against a consensus estimate of ($0.01).
• Wall Street analysts have a mixed outlook on Almonty, with two "buy" ratings and one "sell" rating, leading to an average target price of $8.75.

Almonty Industries Inc. (NASDAQ:ALM - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $7.83, but opened at $7.56. Almonty Industries shares last traded at $7.76, with a volume of 2,300,606 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. 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 on the stock. DA Davidson lifted their price target on Almonty Industries from $7.00 to $11.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Almonty Industries in a report on Wednesday. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $8.75.

Almonty Industries Stock 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 company has a market cap of $1.64 billion and a price-to-earnings ratio of -22.23.

Almonty Industries (NASDAQ:ALM - Get Free Report) last posted its quarterly earnings results 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 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%.

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.

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