Almonty Industries (TSE:AII) Shares Down 4.4% - Here's Why

Key Points

• Almonty Industries' stock price fell 4.4% to C$11.16 on a day when trading volume declined by 75% compared to average sessions.
• Despite the recent dip, the company has received a "strong-buy" rating from DA Davidson, contributing to a consensus of "strong buy" ratings from two analysts.
• Almonty Industries is primarily involved in the mining and processing of tungsten, with operations in Spain and Portugal, and is evaluating multiple projects including the expected re-opening of its Sangdong mine in South Korea.

Almonty Industries Inc. (TSE:AII - Get Free Report)'s stock price fell 4.4% on Wednesday . The stock traded as low as C$10.60 and last traded at C$11.16. 109,843 shares traded hands during trading, a decline of 75% from the average session volume of 440,605 shares. The stock had previously closed at C$11.67.

Analyst Ratings Changes

Separately, DA Davidson upgraded Almonty Industries to a "strong-buy" rating in a report on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Strong Buy".

Almonty Industries Stock Performance

The firm has a market cap of C$2.42 billion, a PE ratio of -20.29 and a beta of 1.26. The company has a quick ratio of 0.11, a current ratio of 0.38 and a debt-to-equity ratio of 225.11. The business has a 50 day simple moving average of C$7.86 and a two-hundred day simple moving average of C$5.18.

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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