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

Key Points

• Weiss Ratings has reaffirmed a "sell (e+)" rating for Almonty Industries (NASDAQ: ALM), indicating continued bearish sentiments about the stock's performance.
• Despite the sell rating from Weiss, other analysts like Oppenheimer and DA Davidson have raised their price targets for Almonty Industries, with Oppenheimer increasing it to $12.00 and DA Davidson to $11.00.
• Almonty Industries reported a quarterly loss with an EPS of ($0.05), missing the consensus estimate, and experienced a stock drop of 9.2% in its recent trading session.

Almonty Industries (NASDAQ:ALM - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by research analysts at Weiss Ratings in a report released on Friday,Weiss Ratings reports.

ALM has been the topic of several other research reports. Oppenheimer increased their price target on shares of Almonty Industries from $7.00 to $12.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 15th. DA Davidson raised their target price on shares of Almonty Industries from $7.00 to $11.00 and gave the company a "buy" rating in a research note on Tuesday, October 7th. Finally, Cantor Fitzgerald began coverage on shares of Almonty Industries in a research note on Wednesday, August 13th. They issued an "overweight" rating and a $6.50 target price on the stock. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $9.83.

Almonty Industries Stock Down 9.2%

Shares of ALM traded down $0.70 during mid-day trading on Friday, hitting $6.92. 2,809,155 shares of the company's stock were exchanged, compared to its average volume of 1,713,198. The firm's fifty day simple moving average is $5.80. Almonty Industries has a twelve month low of $3.16 and a twelve month high of $10.68. The firm has a market capitalization of $1.55 billion and a PE ratio of -20.35. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 16.37.

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

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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