Almonty Industries (NASDAQ:ALM) Trading Down 12.8% – Time to Sell?

Almonty Industries Inc. (NASDAQ:ALM)’s stock price fell 12.8% on Thursday . The stock traded as low as $12.36 and last traded at $12.37. 3,110,972 shares were traded during trading, a decline of 37% from the average session volume of 4,921,287 shares. The stock had previously closed at $14.18.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ALM. Oppenheimer raised their target price on shares of Almonty Industries from $7.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Almonty Industries in a research note on Monday, December 29th. Wall Street Zen raised shares of Almonty Industries from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, DA Davidson boosted their price objective on shares of Almonty Industries from $12.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $12.17.

Almonty Industries Stock Performance

The company has a current ratio of 2.38, a quick ratio of 2.25 and a debt-to-equity ratio of 1.02. The business’s fifty day simple moving average is $9.75. The firm has a market capitalization of $3.36 billion and a price-to-earnings ratio of -55.52.

Institutional Investors Weigh In On Almonty Industries

Institutional investors have recently made changes to their positions in the company. Serenus Wealth Advisors LLC increased its stake in shares of Almonty Industries by 11.0% during the fourth quarter. Serenus Wealth Advisors LLC now owns 22,200 shares of the company’s stock worth $196,000 after purchasing an additional 2,200 shares during the period. Global Retirement Partners LLC bought a new stake in Almonty Industries in the 4th quarter valued at $35,000. MCF Advisors LLC grew its holdings in Almonty Industries by 40.8% in the 4th quarter. MCF Advisors LLC now owns 14,084 shares of the company’s stock valued at $124,000 after buying an additional 4,084 shares in the last quarter. State of Wyoming bought a new position in Almonty Industries during the 4th quarter worth $41,000. Finally, FNY Investment Advisers LLC bought a new position in Almonty Industries during the 3rd quarter worth $30,000.

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.