Almonty Industries (NASDAQ:ALM) Shares Gap Down – What’s Next?

Almonty Industries Inc. (NASDAQ:ALM)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $19.29, but opened at $18.31. Almonty Industries shares last traded at $18.4890, with a volume of 2,792,368 shares changing hands.

Analysts Set New Price Targets

ALM has been the subject of a number of research analyst reports. B. Riley Financial lifted their target price on shares of Almonty Industries from $10.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Almonty Industries in a research note on Monday, December 29th. Finally, DA Davidson set a $25.00 price objective on Almonty Industries in a report on Friday, March 6th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Almonty Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.13.

Almonty Industries Stock Down 6.4%

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 stock has a market cap of $5.06 billion and a P/E ratio of -78.53. The company’s 50 day moving average price is $14.02 and its two-hundred day moving average price is $9.35.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ALM. Marathon Capital Management purchased a new stake in shares of Almonty Industries in the 3rd quarter worth $1,509,000. Telemark Asset Management LLC bought a new position in Almonty Industries in the 3rd quarter worth $7,839,000. First Eagle Investment Management LLC purchased a new position in Almonty Industries during the third quarter valued at $543,000. Huntleigh Advisors Inc. bought a new stake in Almonty Industries during the third quarter valued at about $661,000. Finally, Old West Investment Management LLC bought a new stake in Almonty Industries during the third quarter valued at about $2,148,000.

Almonty Industries Company Profile

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.