Almonty Industries (NASDAQ:ALM) Stock Price Down 12% - Here's What Happened

Key Points

• Almonty Industries' stock price dropped 12% to $7.92, with trading volume significantly down by 36% compared to the average.
• Analysts have mixed ratings for the stock, with a consensus average rating of "Moderate Buy" and a price target averaging $9.83.
• In its latest earnings report, Almonty reported a loss of ($0.05) EPS, missing estimates, alongside a significant negative net margin and return on equity.

Almonty Industries Inc. (NASDAQ:ALM - Get Free Report)'s stock price fell 12% on Tuesday . The stock traded as low as $7.68 and last traded at $7.92. 1,049,229 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 1,634,104 shares. The stock had previously closed at $9.00.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ALM. Weiss Ratings restated a "sell (e+)" rating on shares of Almonty Industries in a research report on Wednesday, October 8th. Cantor Fitzgerald initiated coverage on shares of Almonty Industries in a research note on Wednesday, August 13th. They set an "overweight" rating and a $6.50 price target for the company. Oppenheimer increased their price target on shares of Almonty Industries from $7.00 to $12.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 15th. Finally, DA Davidson increased their price target on shares of Almonty Industries from $7.00 to $11.00 and gave the stock a "buy" rating in a research note on Tuesday, October 7th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Almonty Industries currently has an average rating of "Moderate Buy" and an average price target of $9.83.

Almonty Industries Stock Performance

The stock's 50-day simple moving average is $5.66. 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 stock has a market cap of $1.85 billion and a PE ratio of -24.26.

Almonty Industries (NASDAQ:ALM - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.04). The business had revenue of $5.20 million during the quarter, compared to analyst estimates of $5.30 million. Almonty Industries had a negative net margin of 366.52% and a negative return on equity of 104.72%.

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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