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Almonty Industries Inc. (ALM) Soars 11.5%: Is Further Upside Left in the Stock?
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Almonty Industries Inc. (ALM - Free Report) shares ended the last trading session 11.5% higher at $8.64. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 73.8% gain over the past four weeks.
Almonty has recently filed a Notice of Application in the Ontario Superior Court of Justice against Pure Tungsten Inc. seeking legal relief over materially false and misleading statements circulated by Pure Tungsten about Almonty. These statements, according to ALM, is a direct threat to market integrity and interests of shareholders.
Almonty recently commenced a large-scale drilling program in late September at its Sangdong Molybdenum Project in South Korea. The program to confirm mineral reserves of molybdenum is in response to South Korea’s acute molybdenum shortage. If molybdenum production at the Sangdong Molybdenum Project begins alongside ALM’s Sangdong Tungsten Mine, it could lead to significant benefits for the company.
Tungsten remains one of the world’s most critical raw materials due to its exceptional hardness, density and high melting point. These qualities make it indispensable in defense, automotive, and industrial applications. With China controlling around 82% of production and tightening export control, the need to secure alternate source of production has become urgent.
Almonty’s Sangdong mine is one of the largest and highest-grade tungsten deposits in the world. Production start in Phase I (throughput capacity of 640,000 tons tungsten ore per year) is slated to start this year. Offtake agreements are already in place to acquire all of ALM’s expected Phase I tungsten production at attractive pricing. The Phase II of the project, expected construction completion by 2026, is expected to increase throughput to 1.2 million tons tungsten ore per year.
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.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with 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 a member of the Zacks Mining - Miscellaneous industry. One other stock in the same industry, Silvercorp (SVM - Free Report) , finished the last trading session 6.6% higher at $7.08. SVM has returned 25.8% over the past month.
Silvercorp's consensus EPS estimate for the upcoming report has changed +29.2% over the past month to $0.09. Compared to the company's year-ago EPS, this represents no change. Silvercorp currently boasts a Zacks Rank of #3 (Hold).
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Almonty Industries Inc. (ALM) Soars 11.5%: Is Further Upside Left in the Stock?
Almonty Industries Inc. (ALM - Free Report) shares ended the last trading session 11.5% higher at $8.64. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 73.8% gain over the past four weeks.
Almonty has recently filed a Notice of Application in the Ontario Superior Court of Justice against Pure Tungsten Inc. seeking legal relief over materially false and misleading statements circulated by Pure Tungsten about Almonty. These statements, according to ALM, is a direct threat to market integrity and interests of shareholders.
Almonty recently commenced a large-scale drilling program in late September at its Sangdong Molybdenum Project in South Korea. The program to confirm mineral reserves of molybdenum is in response to South Korea’s acute molybdenum shortage. If molybdenum production at the Sangdong Molybdenum Project begins alongside ALM’s Sangdong Tungsten Mine, it could lead to significant benefits for the company.
Tungsten remains one of the world’s most critical raw materials due to its exceptional hardness, density and high melting point. These qualities make it indispensable in defense, automotive, and industrial applications. With China controlling around 82% of production and tightening export control, the need to secure alternate source of production has become urgent.
Almonty’s Sangdong mine is one of the largest and highest-grade tungsten deposits in the world. Production start in Phase I (throughput capacity of 640,000 tons tungsten ore per year) is slated to start this year. Offtake agreements are already in place to acquire all of ALM’s expected Phase I tungsten production at attractive pricing. The Phase II of the project, expected construction completion by 2026, is expected to increase throughput to 1.2 million tons tungsten ore per year.
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.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with 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 a member of the Zacks Mining - Miscellaneous industry. One other stock in the same industry, Silvercorp (SVM - Free Report) , finished the last trading session 6.6% higher at $7.08. SVM has returned 25.8% over the past month.
Silvercorp's consensus EPS estimate for the upcoming report has changed +29.2% over the past month to $0.09. Compared to the company's year-ago EPS, this represents no change. Silvercorp currently boasts a Zacks Rank of #3 (Hold).