Almonty Industries (NASDAQ:ALM) Shares Gap Down – Time to Sell?

Shares of Almonty Industries Inc. (NASDAQ:ALM) gapped down before the market opened on Friday . The stock had previously closed at $7.83, but opened at $7.56. Almonty Industries shares last traded at $7.76, with a volume of 2,300,606 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently commented on ALM shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Almonty Industries in a research report on Wednesday. Cantor Fitzgerald started coverage on Almonty Industries in a research report on Wednesday, August 13th. They set an “overweight” rating and a $6.50 price target for the company. Finally, DA Davidson boosted their price target on Almonty Industries from $7.00 to $11.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $8.75.

Almonty Industries Trading Down 1.0%

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 business’s fifty day simple moving average is $5.18. The company has a market cap of $1.68 billion and a P/E ratio of -22.79.

Almonty Industries (NASDAQ:ALM) last issued its earnings results on Thursday, August 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The company had revenue of $5.20 million during the quarter, compared to analysts’ expectations of $5.30 million. Almonty Industries had a negative net margin of 366.52% and a negative return on equity of 104.72%.

Almonty Industries Company Profile

Almonty Industries Inc is a producer of tungsten concentrate. The Company is currently mining, processing and shipping tungsten concentrate from its Panasqueira Mine in Portugal. Almonty Industries Inc is based in TORONTO.