Weiss Ratings Reaffirms "Sell (E+)" Rating for Almonty Industries (NASDAQ:ALM)

Key Points

• Weiss Ratings has reiterated a "Sell (E+)" rating for Almonty Industries (NASDAQ:ALM), reflecting ongoing concerns about the company's performance.
• Almonty Industries' stock saw a 7.4% increase in value, trading at $7.65, while also reporting disappointing quarterly earnings with a revenue of $5.20 million.
• Analysts provided mixed ratings for Almonty Industries, with one firm upgrading the target price to $11.00 while the average target price stands at $8.75.

Almonty Industries (NASDAQ:ALM - Get Free Report)'s stock had its "sell (e+)" rating reiterated by equities research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

ALM has been the subject of several other reports. DA Davidson upped their target price on shares of Almonty Industries from $7.00 to $11.00 and gave the stock a "buy" rating in a research report on Tuesday. Cantor Fitzgerald started coverage on shares of Almonty Industries in a research report on Wednesday, August 13th. They issued an "overweight" rating and a $6.50 target price for the company. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $8.75.

Almonty Industries Stock Up 7.4%

Shares of ALM traded up $0.53 during mid-day trading on Wednesday, reaching $7.65. 3,262,912 shares of the stock traded hands, compared to its average volume of 1,129,856. The firm has a market capitalization of $1.66 billion and a P/E ratio of -22.50. The company has a debt-to-equity ratio of 16.37, a current ratio of 0.77 and a quick ratio of 0.63. Almonty Industries has a 1 year low of $3.16 and a 1 year high of $7.79.

Almonty Industries (NASDAQ:ALM - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.04). The firm had revenue of $5.20 million for the quarter, compared to analysts' expectations of $5.30 million. Almonty Industries had a negative net margin of 366.52% and a negative return on equity of 104.72%.

Almonty Industries Company Profile

Almonty Industries Inc is a producer of tungsten concentrate. The Company is currently mining, processing and shipping tungsten concentrate from its Panasqueira Mine in Portugal. Almonty Industries Inc is based in TORONTO.

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