Almonty Industries (OTCMKTS:ALMTF) Shares Cross Below Two Hundred Day Moving Average – What’s Next?

Almonty Industries Inc. (OTCMKTS:ALMTF)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-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 changing hands.

Wall Street Analyst Weigh In

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

Almonty Industries Stock Up 2.2%

The company’s 50 day moving average price is $3.24 and its 200 day moving average price is $3.24.

Almonty Industries Company Profile

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.