Almonty Industries (TSE:AII) Shares Up 8% - Here's Why

Key Points

• Almonty Industries (TSE:AII) experienced an 8% increase in stock price, rising to C$6.06, following a prior close of C$5.61.
• DA Davidson upgraded Almonty Industries to a "strong-buy" rating, contributing to the stock's average rating of "Strong Buy" from analysts.
• The company has a market capitalization of C$1.71 billion and operates tungsten mining projects in Spain and Korea.

Almonty Industries Inc. (TSE:AII - Get Free Report) shares traded up 8% on Wednesday . The company traded as high as C$6.11 and last traded at C$6.06. 83,776 shares were traded during trading, a decline of 80% from the average session volume of 417,824 shares. The stock had previously closed at C$5.61.

Analyst Upgrades and Downgrades

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

Almonty Industries Stock Performance

The company has a current ratio of 0.38, a quick ratio of 0.11 and a debt-to-equity ratio of 225.11. The stock's 50 day moving average price is C$5.40 and its two-hundred day moving average price is C$3.36. The firm has a market capitalization of C$1.73 billion, a PE ratio of -86.10 and a beta of 1.47.

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').