Almonty Industries (NASDAQ:ALM) Shares Down 7.3% – Time to Sell?

Almonty Industries Inc. (NASDAQ:ALM) traded down 7.3% during trading on Monday . The company traded as low as $6.31 and last traded at $6.36. 490,136 shares changed hands during trading, a decline of 72% from the average session volume of 1,768,332 shares. The stock had previously closed at $6.86.

Wall Street Analyst Weigh In

Several research firms have commented on ALM. DA Davidson upped their price objective on shares of Almonty Industries from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Wall Street Zen upgraded Almonty Industries from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Almonty Industries in a research report on Tuesday, November 25th. Cantor Fitzgerald initiated coverage on shares of Almonty Industries in a report on Wednesday, August 13th. They set an “overweight” rating and a $6.50 target price on the stock. Finally, Oppenheimer increased their price objective on Almonty Industries from $7.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.17.

Almonty Industries Stock Performance

The company has a market capitalization of $1.48 billion and a PE ratio of -18.71. The company has a 50-day moving average of $6.89. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 16.37.

Hedge Funds Weigh In On Almonty Industries

A number of institutional investors and hedge funds have recently modified their holdings of the company. Banque Cantonale Vaudoise purchased a new stake in shares of Almonty Industries during the 3rd quarter valued at about $54,000. MCF Advisors LLC bought a new position in Almonty Industries in the third quarter worth approximately $60,000. Oppenheimer & Co. Inc. bought a new stake in Almonty Industries during the third quarter valued at about $66,000. Scientech Research LLC purchased a new stake in Almonty Industries in the third quarter worth about $75,000. Finally, Fifth Lane Capital LP bought a new position in shares of Almonty Industries during the 3rd quarter valued at approximately $75,000.

About Almonty Industries

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.