Almonty Industries (NASDAQ:ALM) Shares Gap Up After Analyst Upgrade

Key Points

• Almonty Industries shares gapped up to $7.07 after DA Davidson raised their price target from $7.00 to $11.00, maintaining a buy rating on the stock.
• The company reported a negative return on equity of 104.72% and a net margin of 366.52%, with a loss of ($0.05) EPS in their last quarterly earnings.
• Almonty Industries has a market capitalization of $1.54 billion and a high debt-to-equity ratio of 16.37.

Almonty Industries Inc. (NASDAQ:ALM - Get Free Report) gapped up before the market opened on Tuesday after DA Davidson raised their price target on the stock from $7.00 to $11.00. The stock had previously closed at $6.69, but opened at $7.07. DA Davidson currently has a buy rating on the stock. Almonty Industries shares last traded at $7.06, with a volume of 921,487 shares changing hands.

Several other research firms have also recently weighed in on ALM. Weiss Ratings reiterated a "sell (e+)" rating on shares of Almonty Industries in a report on Saturday, September 27th. 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 for the company. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $8.75.

Almonty Industries Trading Up 6.0%

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 $1.54 billion and a PE ratio of -20.85.

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 (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate 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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