Almonty Industries (TSE:AII) Shares Up 14.2% - Here's Why

Almonty Industries Inc. (TSE:AII - Get Free Report)'s share price shot up 14.2% during mid-day trading on Wednesday . The company traded as high as C$3.71 and last traded at C$3.70. 869,099 shares traded hands during mid-day trading, an increase of 68% from the average session volume of 517,468 shares. The stock had previously closed at C$3.24.

Analysts Set New Price Targets

Separately, B. Riley raised shares of Almonty Industries to a "strong-buy" rating in a research report on Monday, April 14th.

Almonty Industries Price Performance

The company's 50-day moving average is C$2.74 and its two-hundred day moving average is C$1.97. The company has a debt-to-equity ratio of 225.11, a current ratio of 0.38 and a quick ratio of 0.11. The firm has a market cap of C$1.13 billion, a P/E ratio of -56.19 and a beta of 1.47.

Insider Buying and Selling

In related news, Senior Officer Marion Mcgrath sold 30,000 shares of the company's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of C$2.19, for a total transaction of C$65,700.00. Also, Director Michael Lewis Black acquired 50,000 shares of the business's stock in a transaction that occurred on Friday, March 28th. The shares were purchased at an average cost of C$2.17 per share, with a total value of C$108,520.00. 39.04% of the stock is currently owned by company insiders.

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').