We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Almonty Industries Inc. (ALM) Moves 12.3% Higher: Will This Strength Last?
Read MoreHide Full Article
Almonty Industries Inc. (ALM - Free Report) shares rallied 12.3% in the last trading session to close at $5.95. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 23.5% gain over the past four weeks.
Almonty Industries shares have gained following its announcement that it has commenced a large-scale drilling program at its Sangdong Molybdenum Project in Yeongwol, Gangwon Province, South Korea. A total of 26 drill holes, spanning 11,700 meters of underground space will be drilled to confirm mineral reserves of molybdenum. Following this campaign, Almonty expects to update the Technical Report and commence production.
Almonty already holds an exclusive agreement to supply 100% of future molybdenum output from the Sangdong Molybdenum Project to SeAH M&S, a subsidiary of the SeAH Group.
The company is accelerating its molybdenum drilling campaign in response to South Korea’s acute molybdenum shortage. If molybdenum production at the Sangdong Molybdenum Project begins alongside the Sangdong Tungsten Mine, which is already in its Phase I production preparation stage, it could lead to significant benefits.
This company is expected to post quarterly earnings of $0.00 per share in its upcoming report, which represents a year-over-year change of +100%. Revenues are expected to be $17.33 million, up 248% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Almonty Industries Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ALM going forward to see if this recent jump can turn into more strength down the road.
Almonty Industries Inc. is part of the Zacks Mining - Miscellaneous industry. Teck Resources Ltd (TECK - Free Report) , another stock in the same industry, closed the last trading session 0.3% lower at $38.62. TECK has returned 16.3% in the past month.
For Teck Resources, the consensus EPS estimate for the upcoming report has changed +1% over the past month to $0.43. This represents a change of -2.3% from what the company reported a year ago. Teck Resources currently has a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Almonty Industries Inc. (ALM) Moves 12.3% Higher: Will This Strength Last?
Almonty Industries Inc. (ALM - Free Report) shares rallied 12.3% in the last trading session to close at $5.95. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 23.5% gain over the past four weeks.
Almonty Industries shares have gained following its announcement that it has commenced a large-scale drilling program at its Sangdong Molybdenum Project in Yeongwol, Gangwon Province, South Korea. A total of 26 drill holes, spanning 11,700 meters of underground space will be drilled to confirm mineral reserves of molybdenum. Following this campaign, Almonty expects to update the Technical Report and commence production.
Almonty already holds an exclusive agreement to supply 100% of future molybdenum output from the Sangdong Molybdenum Project to SeAH M&S, a subsidiary of the SeAH Group.
The company is accelerating its molybdenum drilling campaign in response to South Korea’s acute molybdenum shortage. If molybdenum production at the Sangdong Molybdenum Project begins alongside the Sangdong Tungsten Mine, which is already in its Phase I production preparation stage, it could lead to significant benefits.
This company is expected to post quarterly earnings of $0.00 per share in its upcoming report, which represents a year-over-year change of +100%. Revenues are expected to be $17.33 million, up 248% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Almonty Industries Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ALM going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Almonty Industries Inc. is part of the Zacks Mining - Miscellaneous industry. Teck Resources Ltd (TECK - Free Report) , another stock in the same industry, closed the last trading session 0.3% lower at $38.62. TECK has returned 16.3% in the past month.
For Teck Resources, the consensus EPS estimate for the upcoming report has changed +1% over the past month to $0.43. This represents a change of -2.3% from what the company reported a year ago. Teck Resources currently has a Zacks Rank of #3 (Hold).