Almonty Industries (NASDAQ:ALM) Shares Down 12.8% – Time to Sell?

Shares of Almonty Industries Inc. (NASDAQ:ALM) traded down 12.8% on Thursday . The stock traded as low as $12.36 and last traded at $12.37. 3,110,972 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 4,921,287 shares. The stock had previously closed at $14.18.

Analysts Set New Price Targets

A number of equities analysts recently commented on ALM shares. DA Davidson boosted their price objective on shares of Almonty Industries from $12.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Wall Street Zen raised Almonty Industries from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. B. Riley Securities raised their price objective on Almonty Industries from $10.00 to $17.00 and gave the company a “buy” rating in a research report on Friday. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Almonty Industries in a research note on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.38.

Almonty Industries Stock Performance

The company has a debt-to-equity ratio of 1.02, a current ratio of 2.38 and a quick ratio of 2.25. The company has a market cap of $3.64 billion and a P/E ratio of -60.17. The stock has a 50 day moving average of $9.99.

Institutional Trading of Almonty Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALM. Serenus Wealth Advisors LLC increased its holdings in shares of Almonty Industries by 11.0% in the fourth quarter. Serenus Wealth Advisors LLC now owns 22,200 shares of the company’s stock valued at $196,000 after purchasing an additional 2,200 shares during the period. Global Retirement Partners LLC acquired a new position in Almonty Industries in the 4th quarter worth approximately $35,000. MCF Advisors LLC raised its position in Almonty Industries by 40.8% during the 4th quarter. MCF Advisors LLC now owns 14,084 shares of the company’s stock worth $124,000 after buying an additional 4,084 shares during the last quarter. State of Wyoming purchased a new position in Almonty Industries during the 4th quarter worth approximately $41,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Almonty Industries in the 3rd quarter valued at $30,000.

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.