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

Key Points

• Almonty Industries' stock price gapped up from $8.64 to $9.50 before opening, with last traded shares at $8.93 and a volume of over 2 million.
• Analyst upgrades have been noted, with DA Davidson raising its price target from $7.00 to $11.00, while Weiss Ratings maintained a 'sell' rating amidst mixed ratings from other analysts.
• The company reported a loss of ($0.05) earnings per share for the last quarter, missing expectations and reflecting a negative net margin of 366.52%.

Almonty Industries Inc. (NASDAQ:ALM - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $8.64, but opened at $9.50. Almonty Industries shares last traded at $8.93, with a volume of 2,169,644 shares.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ALM shares. DA Davidson increased 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. 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 on the stock. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Almonty Industries in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Almonty Industries currently has an average rating of "Hold" and an average price target of $8.75.

Almonty Industries Stock Performance

The company has a market capitalization of $2.12 billion and a PE ratio of -28.68. 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's 50 day moving average price is $5.26.

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 the consensus estimate of ($0.01) by ($0.04). Almonty Industries had a negative net margin of 366.52% and a negative return on equity of 104.72%. The business 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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