Almonty Industries (TSE:AII) Shares Down 8.4% – Here’s What Happened

Almonty Industries Inc. (TSE:AII) fell 8.4% on Tuesday . The company traded as low as C$16.21 and last traded at C$17.22. Approximately 1,080,500 shares changed hands during trading, an increase of 30% from the average daily volume of 830,315 shares. The stock had previously closed at C$18.80.

Analysts Set New Price Targets

Separately, Texas Capital raised Almonty Industries to a “strong-buy” rating in a research note on Thursday, April 16th. Two analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Strong Buy”.

Almonty Industries Stock Performance

The stock has a market cap of C$4.63 billion, a PE ratio of -24.36 and a beta of 2.17. The company has a fifty day moving average price of C$23.36 and a 200 day moving average price of C$22.87. The company has a quick ratio of 0.11, a current ratio of 2.45 and a debt-to-equity ratio of 46.54.

Almonty Industries (TSE:AII) last issued its earnings results on Monday, May 11th. The company reported C($0.02) earnings per share for the quarter. Almonty Industries had a negative net margin of 265.08% and a negative return on equity of 59.18%. The company had revenue of C$25.40 million for the quarter. Analysts expect that Almonty Industries Inc. will post 0.0199773 earnings per share for the current year.

Almonty Industries Company Profile

Almonty (NASDAQ: ALM) (TSX: AII) (ASX: AII) (Frankfurt: ALI1) is a leading supplier of conflict free tungsten – a strategic metal critical to the defense and advanced technology sectors. As geopolitical tensions heighten, tungsten has become essential for armor, munitions, and electronics manufacturing. Almontys flagship Sangdong Tungsten Mine in South Korea, historically one of the worlds largest and highest-grade tungsten deposits, is expected to supply over 40% of global non-China tungsten production upon reaching full capacity, directly addressing critical supply vulnerabilities highlighted by recent U.S.