Almonty Industries (TSE:AII) Stock Price Up 11.2% – Here’s What Happened

Almonty Industries Inc. (TSE:AII)’s share price shot up 11.2% during trading on Friday . The stock traded as high as C$23.12 and last traded at C$23.12. 299,291 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 836,613 shares. The stock had previously closed at C$20.80.

Analyst Ratings Changes

Separately, Texas Capital raised Almonty Industries to a “strong-buy” rating in a research report on Thursday, April 16th. Two investment analysts have rated the stock with a Strong Buy rating, According to MarketBeat, the stock presently has an average rating of “Strong Buy”.

Almonty Industries Trading Up 12.4%

The business’s 50-day simple moving average is C$25.26 and its 200-day simple moving average is C$22.19. The company has a market cap of C$6.63 billion, a PE ratio of -34.90 and a beta of 2.17. The company has a current ratio of 2.45, a quick ratio of 0.11 and a debt-to-equity ratio of 46.54.

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

About Almonty Industries

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.