Almonty Industries (NASDAQ:ALM) Stock Price Down 4.8% – Time to Sell?

Almonty Industries Inc. (NASDAQ:ALM)’s share price traded down 4.8% during mid-day trading on Friday . The company traded as low as $8.85 and last traded at $8.86. 1,077,452 shares were traded during trading, a decline of 56% from the average session volume of 2,428,362 shares. The stock had previously closed at $9.31.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wall Street Zen raised shares of Almonty Industries from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Almonty Industries in a research note on Monday, December 29th. DA Davidson reaffirmed a “buy” rating and set a $12.00 price target on shares of Almonty Industries in a research note on Friday, December 19th. Finally, Oppenheimer raised their price objective on Almonty Industries from $7.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Almonty Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.17.

Almonty Industries Price 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 company’s fifty day moving average price is $7.51. The firm has a market cap of $2.19 billion and a PE ratio of -37.52.

Institutional Trading of Almonty Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC purchased a new position in shares of Almonty Industries during the third quarter valued at approximately $30,000. Vivaldi Capital Management LP bought a new position in Almonty Industries during the 3rd quarter valued at $503,000. Worth Venture Partners LLC purchased a new position in Almonty Industries during the 3rd quarter worth $362,000. Alyeska Investment Group L.P. bought a new stake in shares of Almonty Industries in the 3rd quarter worth $7,839,000. Finally, Wexford Capital LP bought a new stake in shares of Almonty Industries in the 3rd quarter worth $1,099,000.

About Almonty Industries

Almonty Industries is a Canada-based mining company focused on the production, development and acquisition of tungsten assets. The company’s principal business activity is the mining and processing of tungsten-bearing ore to produce tungsten concentrates for industrial customers. Almonty pursues both operating mines and advanced-stage development projects with the objective of supplying a critical raw material used in hardmetals, tooling, drilling and other industrial applications.

Almonty’s asset footprint has historically included operating and development projects in Europe and Asia.