Almonty Industries (TSE:AII) Sets New 12-Month High - Here's Why

Key Points

• Almonty Industries Inc. reached a new 12-month high with shares trading at C$9.98, a significant increase from the previous close of C$8.76.
• Wall Street analysts have given Almonty Industries a "Strong Buy" rating, indicating confidence in the stock's growth potential.
• The company operates in the mining and processing of tungsten, with key projects in Spain and Korea, contributing to its market valuation of C$2.13 billion.

Almonty Industries Inc. (TSE:AII - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as C$9.98 and last traded at C$9.86, with a volume of 348026 shares traded. The stock had previously closed at C$8.76.

Wall Street Analysts Forecast Growth

Separately, DA Davidson upgraded shares of Almonty Industries to a "strong-buy" rating in a research report on Monday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, According to MarketBeat, Almonty Industries has an average rating of "Strong Buy".

Almonty Industries Stock Up 12.0%

The firm's 50 day moving average is C$6.39 and its two-hundred day moving average is C$4.42. The stock has a market cap of C$2.13 billion, a price-to-earnings ratio of -17.84 and a beta of 1.26. The company has a current ratio of 0.38, a quick ratio of 0.11 and a debt-to-equity ratio of 225.11.

Almonty Industries Company Profile

Almonty Industries Inc is engaged in the mining, processing and shipping of tungsten concentrate from its Los Santos tungsten mine located near Salamanca, Spain (the 'Los Santos Mine'), the processing and shipping of tungsten concentrate from its Panasqueira tin and tungsten mine in Covilha, Castelo Branco, Portugal (the 'Panasqueira Mine'), the evaluation of its Valtreixal tin and tungsten mine project located in Western Spain in the province of Zamora (the 'Valtreixal Mine'), as well as the evaluation and expected re-opening of its Sangdong tungsten mine project located in Gangwon Province, Republic of Korea (the 'Sangdong Mine').

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