Almonty Industries (OTCMKTS:ALMTF) Shares Cross Above Fifty Day Moving Average – What’s Next?

Almonty Industries Inc. (OTCMKTS:ALMTF)’s share price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $3.24 and traded as high as $3.2850. Almonty Industries shares last traded at $3.24, with a volume of 53,671 shares.

Wall Street Analyst Weigh In

Separately, DA Davidson set a $12.00 price target on Almonty Industries in a report on Friday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $12.00.

Almonty Industries Stock Up 2.2%

The firm’s fifty day simple moving average is $3.24 and its two-hundred day simple moving average is $3.13.

Almonty Industries Company Profile

Almonty Industries Inc is a Toronto‐based resource company focused on the acquisition, development and operation of tungsten mining projects. As a vertically integrated producer, the company’s core business centers on the extraction and processing of tungsten concentrates, a critical raw material used in the manufacture of hard metals and alloys. Through its publicly traded shares on both the TSX and OTCMKTS under the symbols AII and ALMTF respectively, Almonty provides exposure to a strategic mineral commodity with broad industrial applications.

The company’s operating portfolio includes the Sangdong project in South Korea, one of the world’s largest known tungsten deposits, which commenced commercial production in 2023.