Almonty Industries (OTCMKTS:ALMTF) Share Price Crosses Below 200 Day Moving Average – Should You Sell?

Almonty Industries Inc. (OTCMKTS:ALMTF) shares crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $3.24 and traded as low as $3.10. Almonty Industries shares last traded at $3.24, with a volume of 53,671 shares trading hands.

Analyst Ratings Changes

Separately, DA Davidson set a $12.00 price objective on shares of Almonty Industries in a research report on Friday, December 19th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $12.00.

Almonty Industries Stock Up 2.2%

The company has a fifty day moving average of $3.24 and a two-hundred day moving average of $3.24.

About Almonty Industries

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.