Almonty Industries (NASDAQ:ALM) Shares Gap Up on Analyst Upgrade

Almonty Industries Inc. (NASDAQ:ALM)’s stock price gapped up before the market opened on Tuesday after DA Davidson raised their price target on the stock from $7.00 to $11.00. The stock had previously closed at $6.69, but opened at $7.07. DA Davidson currently has a buy rating on the stock. Almonty Industries shares last traded at $7.06, with a volume of 921,487 shares changing hands.

A number of other analysts have also weighed in on ALM. Weiss Ratings reiterated a “sell (e+)” rating on shares of Almonty Industries in a research note on Saturday, September 27th. Cantor Fitzgerald began coverage on Almonty Industries in a research note on Wednesday, August 13th. They issued an “overweight” rating and a $6.50 target price on the stock. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Almonty Industries currently has an average rating of “Hold” and a consensus target price of $8.75.

Almonty Industries Stock Performance

The company has a debt-to-equity ratio of 16.37, a current ratio of 0.77 and a quick ratio of 0.63. The stock has a market capitalization of $1.55 billion and a PE ratio of -20.94.

Almonty Industries (NASDAQ:ALM) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $5.20 million for the quarter, compared to the consensus estimate 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.