Almonty Industries (TSE:AII) Stock Passes Below 50-Day Moving Average - Here's What Happened

Key Points

• Almonty Industries shares fell below their 50-day moving average of C$6.02, trading as low as C$5.99 before closing at C$6.20 with a trading volume of 183,371 shares.
• Despite the stock's recent dip, it has a consensus rating of "Strong Buy" from two research analysts, including an upgrade from DA Davidson.
• The company operates tungsten mines in Spain and Portugal, with plans for further evaluations and reopening of its projects, including the Sangdong tungsten mine in South Korea.

Almonty Industries Inc. (TSE:AII - Get Free Report) shares crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$6.02 and traded as low as C$5.99. Almonty Industries shares last traded at C$6.20, with a volume of 183,371 shares changing hands.

Analyst Upgrades and Downgrades

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

Almonty Industries Stock Performance

The company's 50-day moving average price is C$6.02 and its 200 day moving average price is C$3.71. The company has a debt-to-equity ratio of 225.11, a quick ratio of 0.11 and a current ratio of 0.38. The stock has a market capitalization of C$1.35 billion, a PE ratio of -11.27 and a beta of 1.32.

About Almonty Industries

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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