Almonty Industries (NASDAQ:ALM) Stock Price Down 6.6% - What's Next?

Key Points

• Shares of Almonty were down 6.6% on the day, trading as low as $21.69 and last around $21.82 on volume of ~1.7M shares (about 69% below its average daily volume).
• Analysts hold a consensus rating of "Moderate Buy" but the average price target of $18.38 is below the current share price, while individual targets range up to $25 (mix: one Strong Buy, four Buy, one Sell).
• Company fundamentals show a market cap of $6.28B and a negative P/E (-38.27), alongside strong liquidity (quick ratio 3.76, current ratio 3.89) and modest leverage (debt/equity 0.38); Almonty is a tungsten mining and processing company.

Shares of Almonty Industries Inc. (NASDAQ:ALM - Get Free Report) were down 6.6% on Tuesday . The stock traded as low as $21.69 and last traded at $21.8170. Approximately 1,700,002 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 5,477,763 shares. The stock had previously closed at $23.37.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ALM shares. Oppenheimer upped their price target on Almonty Industries from $16.00 to $19.00 and gave the stock an "outperform" rating in a research note on Friday, March 20th. Weiss Ratings reissued a "sell (e+)" rating on shares of Almonty Industries in a report on Monday, December 29th. Texas Capital raised Almonty Industries to a "strong-buy" rating in a report on Thursday, April 16th. B. Riley Financial boosted their target price on Almonty Industries from $17.00 to $23.00 and gave the stock a "buy" rating in a report on Friday, March 20th. Finally, DA Davidson reissued a "buy" rating and issued a $25.00 target price on shares of Almonty Industries in a report on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $18.38.

Almonty Industries Stock Down 5.0%

The company has a quick ratio of 3.76, a current ratio of 3.89 and a debt-to-equity ratio of 0.38. The company has a fifty day simple moving average of $17.43 and a 200 day simple moving average of $11.57. The firm has a market capitalization of $6.28 billion and a P/E ratio of -38.27.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. lifted its holdings in shares of Almonty Industries by 30.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,333 shares of the company's stock valued at $38,000 after purchasing an additional 1,000 shares in the last quarter. Serenus Wealth Advisors LLC lifted its holdings in shares of Almonty Industries by 11.0% during the fourth quarter. Serenus Wealth Advisors LLC now owns 22,200 shares of the company's stock valued at $196,000 after purchasing an additional 2,200 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of Almonty Industries during the fourth quarter valued at $35,000. MCF Advisors LLC lifted its holdings in shares of Almonty Industries by 40.8% during the fourth quarter. MCF Advisors LLC now owns 14,084 shares of the company's stock valued at $124,000 after purchasing an additional 4,084 shares in the last quarter. Finally, State of Wyoming bought a new position in shares of Almonty Industries during the fourth quarter valued at $41,000.

Almonty Industries Company Profile

Almonty Industries is a Canada-based mining company focused on the production, development and acquisition of tungsten assets. The company’s principal business activity is the mining and processing of tungsten-bearing ore to produce tungsten concentrates for industrial customers. Almonty pursues both operating mines and advanced-stage development projects with the objective of supplying a critical raw material used in hardmetals, tooling, drilling and other industrial applications.

Almonty’s asset footprint has historically included operating and development projects in Europe and Asia.

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