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

Key Points

• Almonty Industries' stock price fell by 6.6%, trading around C$6.04 after reaching a low of C$5.82 during the day.
• The company was upgraded to a "strong-buy" rating by DA Davidson, potentially signaling positive market sentiment going forward.
• Almonty Industries operates several tungsten mining sites across Spain and Portugal, with a significant market capitalization of C$1.74 billion.

Shares of Almonty Industries Inc. (TSE:AII - Get Free Report) dropped 6.6% during trading on Friday . The stock traded as low as C$5.82 and last traded at C$6.04. Approximately 241,690 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 416,861 shares. The stock had previously closed at C$6.47.

Wall Street Analyst Weigh In

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

Almonty Industries Price Performance

The company has a market capitalization of C$1.69 billion, a P/E ratio of -84.35 and a beta of 1.47. 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's 50-day moving average price is C$5.24 and its 200 day moving average price is C$3.27.

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').