Almonty Industries (OTCMKTS:ALMTF) Stock Passes Below 200 Day Moving Average – Time to Sell?

Almonty Industries Inc. (OTCMKTS:ALMTF)’s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-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 Analysts Forecast Growth

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

Almonty Industries Stock Up 2.2%

The business has a fifty day simple moving average of $3.24 and a two-hundred day simple moving average of $3.24.

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.