Almonty Industries to Start Tungsten Mining Operations in 2025
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 18 2024
0mins
Should l Buy ALM?
Source: Newsfilter
Almonty Industries Inc. shares surged 12.05% as the stock reached a 52-week high.
The company announced plans to commence active mining operations at the Sangdong Tungsten Mine in South Korea in December 2025, a significant step in its strategy to become a major tungsten supplier outside China. With China restricting tungsten exports, Almonty is poised to capitalize on a market opportunity where prices have surged over 160%, ensuring future revenue visibility, especially in defense applications.
This development not only strengthens Almonty's position in the tungsten market but also enhances its financial foundation, following a successful entry into the U.S. capital markets, raising approximately $90 million.
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Analyst Views on ALM
Wall Street analysts forecast ALM stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for ALM is 12.00 USD with a low forecast of 12.00 USD and a high forecast of 12.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 12.700
Low
12.00
Averages
12.00
High
12.00
Current: 12.700
Low
12.00
Averages
12.00
High
12.00
About ALM
Almonty Industries Inc. is a diversified and global producer of tungsten concentrate. The Company is engaged in mining, processing and shipping tungsten concentrate from its Panasqueira Mine in Portugal. It also has a significant molybdenum resource on a separate property adjacent to the tungsten orebody at the Sangdong Mine. Its additional development projects include the Valtreixal Project in northwestern Spain and Los Santos Mine in western Spain. The Panasqueira Mine is located in Covilha, Castelo Branco, Portugal. The Sangdong Mine is located at Sangdong in the south-eastern Korean Peninsula, approximately 170 km east-southeast of Seoul, South Korea. The Valtreixal Mine is a potential open pit operation, and is located in the northwest part of the Zamora province, in the Castilla de Leon region of Spain. It also operates Woulfe, whose properties are located in Gangwon Province, Republic of Korea, and whose operations relate primarily to the development of the Sangdong Project.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Strong Stock Performance: Almonty Industries' stock has surged approximately 39% over the past month, reaching a 52-week high of $13.82, reflecting market recognition of its potential value.
- High RSI Value: The Relative Strength Index (RSI) for Almonty Industries stands at 74.1, suggesting that the stock may be overbought, prompting investors to exercise caution.
- Recent Price Fluctuation: Despite the positive analyst outlook, Almonty Industries' shares fell 0.2% to close at $13.36 on Wednesday, indicating the complexity of market sentiment.
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- Analyst Rating Upgrade: DA Davidson analyst Griffin Bryan maintained a Buy rating on Almonty Industries and raised the price target from $12 to $18, indicating confidence in the company's future growth potential.
- Strong Stock Performance: Almonty Industries' stock has surged approximately 39% over the past month, reaching a 52-week high of $13.82, reflecting market recognition of its potential value.
- High RSI Value: The Relative Strength Index (RSI) for Almonty Industries stands at 74.1, suggesting that the stock may be overbought, prompting investors to exercise caution.
- Recent Price Fluctuation: Despite the positive analyst outlook, Almonty Industries' shares fell 0.2% to close at $13.36 on Wednesday, indicating the complexity of market sentiment.
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- Capital Flow Shift: The global mining industry has shifted towards brownfield development, with capital now flowing primarily into existing mine infrastructure rather than speculative greenfield projects, with brownfield restarts delivering production timelines 50% to 70% faster, providing structural advantages for companies with historic stockpiles.
- Strategic Land Expansion: Americore has aggressively expanded its land position over recent months, now controlling approximately 22,700 acres of prospective ground, which is expected to triple its resource base to 36 million ounces of silver equivalent, enhancing future production potential.
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- Strategic Mineral Supply Chain Pressure: Governments are prioritizing domestic processing capacity and international partnerships to reduce dependencies, with capital rotating towards companies capable of rapidly converting existing assets, reflecting a heightened focus on supply chain security.
- Americore Resources Strategy: Americore Resources is evaluating options to monetize historic surface stockpiles at its Trinity Silver Project in Nevada, potentially unlocking around 400,000 ounces of silver, leveraging the current silver price of approximately $100 per ounce to generate near-term cash flow.
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- Significant Stock Surge: DaVita's shares jumped 21.7% to $135.26 on Tuesday, reflecting a positive investor reaction to the financial results, which may attract further institutional interest in the stock.
- Price Target Increase: Barclays raised its price target for DaVita from $143 to $158, indicating analysts' optimistic outlook on the company's growth potential, which could further propel the stock price upward.
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- Market Collaboration: Almirall has entered into an exclusive commercialization agreement with Sinomune Pharmaceutical in China, ensuring rapid market entry for the new drug and enhancing the company's market share in the dermatology sector in China.
- Strategic Commitment: This approval underscores Almirall's ongoing commitment to addressing unmet medical needs in dermatology globally, aiming to leverage innovative treatments to solidify its leadership position in medical dermatology.
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- Positive Market Reaction: Following the release of favorable clinical data, there was a surge in demand for Sarepta's shares, reflecting investor optimism about the biopharmaceutical sector's outlook, which may attract more capital into the industry.
- Industry Impact: Sarepta's success could inspire other biopharmaceutical companies to increase investments in rare disease research and development, thereby fostering innovation and growth across the sector.
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