Almonty Industries (OTCMKTS:ALMTF) Stock Price Passes Below 50-Day Moving Average – What’s Next?

Almonty Industries Inc. (OTCMKTS:ALMTF) shares crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $3.24 and traded as low as $3.10. Almonty Industries shares last traded at $3.24, with a volume of 53,671 shares trading hands.

Wall Street Analyst Weigh In

Separately, DA Davidson set a $12.00 price target on shares of Almonty Industries in a research report on Friday, December 19th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $12.00.

Almonty Industries Stock Performance

The business has a 50-day moving average price of $3.24 and a 200-day moving average price of $3.21.

Almonty Industries Company Profile

Almonty Industries Inc is a Toronto‐based resource company focused on the acquisition, development and operation of tungsten mining projects. As a vertically integrated producer, the company’s core business centers on the extraction and processing of tungsten concentrates, a critical raw material used in the manufacture of hard metals and alloys. Through its publicly traded shares on both the TSX and OTCMKTS under the symbols AII and ALMTF respectively, Almonty provides exposure to a strategic mineral commodity with broad industrial applications.

The company’s operating portfolio includes the Sangdong project in South Korea, one of the world’s largest known tungsten deposits, which commenced commercial production in 2023.