Almonty Industries (NASDAQ:ALM) Shares Gap Down – Should You Sell?

Almonty Industries Inc. (NASDAQ:ALM) gapped down prior to trading on Tuesday . The stock had previously closed at $19.29, but opened at $18.31. Almonty Industries shares last traded at $18.4890, with a volume of 2,792,368 shares traded.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ALM. B. Riley Financial boosted their price objective on Almonty Industries from $10.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Almonty Industries in a research note on Monday, December 29th. Finally, DA Davidson set a $25.00 price target on shares of Almonty Industries in a report on Friday, March 6th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Almonty Industries currently has a consensus rating of “Moderate Buy” and an average price target of $15.13.

Almonty Industries Stock Down 6.4%

The firm has a market capitalization of $5.06 billion and a PE ratio of -78.53. 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 50-day moving average price of $14.02 and a 200 day moving average price of $9.35.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC bought a new position in Almonty Industries in the 3rd quarter worth approximately $30,000. Global Retirement Partners LLC bought a new stake in shares of Almonty Industries during the fourth quarter valued at approximately $35,000. Rockefeller Capital Management L.P. lifted its holdings in shares of Almonty Industries by 30.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,333 shares of the company’s stock worth $38,000 after buying an additional 1,000 shares in the last quarter. State of Wyoming purchased a new position in shares of Almonty Industries in the fourth quarter worth $41,000. Finally, Banque Cantonale Vaudoise bought a new position in shares of Almonty Industries during the third quarter worth $54,000.

About Almonty Industries

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.