Almonty Industries (TSE:AII) Shares Down 20.1% – Here’s What Happened

Almonty Industries Inc. (TSE:AII)’s share price dropped 20.1% during mid-day trading on Friday . The stock traded as low as C$22.88 and last traded at C$22.98. Approximately 735,430 shares traded hands during trading, a decline of 17% from the average daily volume of 882,390 shares. The stock had previously closed at C$28.75.

Analysts Set New Price Targets

Separately, Texas Capital raised shares of Almonty Industries to a “strong-buy” rating in a report on Thursday, April 16th. Two investment analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat, Almonty Industries currently has a consensus rating of “Strong Buy”.

Almonty Industries Stock Down 21.0%

The firm has a market cap of C$6.44 billion, a PE ratio of -33.88 and a beta of 2.05. The business’s 50 day moving average price is C$26.46 and its 200 day moving average price is C$19.71. The company has a debt-to-equity ratio of 46.54, a current ratio of 2.45 and a quick ratio of 0.11.

Almonty Industries (TSE:AII) last released its earnings results on Monday, May 11th. The company reported C($0.02) EPS for the quarter. The company had revenue of C$25.40 million for the quarter. Almonty Industries had a negative return on equity of 59.18% and a negative net margin of 265.08%. On average, equities research analysts expect that Almonty Industries Inc. will post 0.0199773 earnings per share for the current year.

About Almonty Industries

Almonty (NASDAQ: ALM) (TSX: AII) (ASX: AII) (Frankfurt: ALI1) is a leading supplier of conflict free tungsten – a strategic metal critical to the defense and advanced technology sectors. As geopolitical tensions heighten, tungsten has become essential for armor, munitions, and electronics manufacturing. Almontys flagship Sangdong Tungsten Mine in South Korea, historically one of the worlds largest and highest-grade tungsten deposits, is expected to supply over 40% of global non-China tungsten production upon reaching full capacity, directly addressing critical supply vulnerabilities highlighted by recent U.S.