Almonty Industries (OTCMKTS:ALMTF) Shares Cross Below 200-Day Moving Average – Here’s What Happened

Almonty Industries Inc. (OTCMKTS:ALMTF)’s stock price crossed below its two hundred day moving average during trading on Thursday . 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.

Analysts Set New Price Targets

Separately, DA Davidson set a $12.00 target price on shares of Almonty Industries in a research note on Friday, December 19th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $12.00.

Almonty Industries Stock Up 2.2%

The company has a 50 day moving average price of $3.24 and a 200 day moving average price 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.