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

Almonty Industries Inc. (NASDAQ:ALM)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $20.72, but opened at $17.94. Almonty Industries shares last traded at $17.22, with a volume of 3,796,158 shares.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. DA Davidson lifted their price objective on shares of Almonty Industries from $12.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Almonty Industries in a research report on Monday, December 29th. Wall Street Zen upgraded Almonty Industries from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, B. Riley Financial boosted their target price on Almonty Industries from $10.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $13.38.

Almonty Industries Price Performance

The stock has a 50 day moving average of $11.85 and a 200-day moving average of $8.25. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.25 and a current ratio of 2.38. The company has a market cap of $5.44 billion and a PE ratio of -84.91.

Institutional Trading of Almonty Industries

Several institutional investors have recently modified their holdings of ALM. Mackenzie Financial Corp increased its stake in shares of Almonty Industries by 59.1% during the fourth quarter. Mackenzie Financial Corp now owns 111,224 shares of the company’s stock worth $982,000 after purchasing an additional 41,331 shares in the last quarter. Quadrature Capital Ltd increased its stake in Almonty Industries by 35.0% during the 4th quarter. Quadrature Capital Ltd now owns 108,069 shares of the company’s stock worth $952,000 after buying an additional 27,993 shares in the last quarter. Man Group plc acquired a new position in shares of Almonty Industries during the fourth quarter valued at approximately $1,510,000. Manatuck Hill Partners LLC purchased a new stake in shares of Almonty Industries during the fourth quarter worth approximately $1,762,000. Finally, Element Capital Management LLC acquired a new position in Almonty Industries in the 4th quarter valued at $1,855,000.

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.