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

Almonty Industries Inc. (NASDAQ:ALM)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $16.93, but opened at $16.19. Almonty Industries shares last traded at $15.4360, with a volume of 4,431,233 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Oppenheimer increased their target price on Almonty Industries from $16.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, March 20th. B. Riley Financial upped their price target on shares of Almonty Industries from $17.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Weiss Ratings reissued a “sell (e+)” rating on shares of Almonty Industries in a research report on Monday, December 29th. Finally, DA Davidson restated a “buy” rating and set a $25.00 price objective on shares of Almonty Industries in a research note on Friday, March 20th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Almonty Industries currently has an average rating of “Moderate Buy” and a consensus price target of $18.38.

Almonty Industries Stock Performance

The company has a market capitalization of $4.58 billion and a PE ratio of -28.17. The company has a current ratio of 3.89, a quick ratio of 3.76 and a debt-to-equity ratio of 0.38. The business’s fifty day moving average is $15.08 and its two-hundred day moving average is $9.93.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Huntleigh Advisors Inc. purchased a new stake in shares of Almonty Industries during the third quarter valued at $661,000. BLB&B Advisors LLC purchased a new position in Almonty Industries in the 3rd quarter worth about $298,000. General American Investors Co. Inc. bought a new position in Almonty Industries during the 3rd quarter valued at about $246,000. Old West Investment Management LLC bought a new position in Almonty Industries during the 3rd quarter valued at about $2,148,000. Finally, MCF Advisors LLC purchased a new stake in shares of Almonty Industries during the 3rd quarter valued at about $60,000.

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.