Almonty announced the first truckload of ore has been successfully delivered to the run-of-mine pad at the Sangdong Mine, a transition from early-stage mine development to active mining operations and the final step before commencement of commercial production. Lewis Black, President and Chief Executive Officer, said: "This first ore placement represents a strategic inflection point in advancing Almonty's mission to strengthen the global tungsten supply chain. Sangdong plays a critical role in efforts by the United States, the European Union, and Korea to diversify away from the China-dominated market, which currently supplies more than 80% of the world's tungsten. The resumption of production at the Sangdong Mine forms the foundation for securing reliable, non-China tungsten supply to key sectors such as defense, semiconductors, AI hardware, aerospace, and other high-technology industries."
Wall Street analysts forecast ALM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ALM is 11.96 USD with a low forecast of 11.96 USD and a high forecast of 11.96 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
Wall Street analysts forecast ALM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ALM is 11.96 USD with a low forecast of 11.96 USD and a high forecast of 11.96 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 Buy
0 Hold
0 Sell
Moderate Buy
Current: 9.000
Low
11.96
Averages
11.96
High
11.96
Current: 9.000
Low
11.96
Averages
11.96
High
11.96
DA Davidson
Matt Summerville
Buy
maintain
$11 -> $12
Al Analysis
2025-11-13
Reason
DA Davidson
Matt Summerville
Price Target
$11 -> $12
Al Analysis
2025-11-13
maintain
Buy
Reason
DA Davidson analyst Matt Summerville raised the firm's price target on Almonty to $12 from $11 and keeps a Buy rating on the shares. The firm cites the company's Q3 earnings beat amid ongoing news flow and positive market developments within the tungsten market, paired with an incrementally more detailed assessment of its recent domestic tungsten acquisition, the analyst tells investors in a research note.
Oppenheimer
Oppenheimer
Outperform
maintain
$7 -> $12
2025-10-15
Reason
Oppenheimer
Oppenheimer
Price Target
$7 -> $12
2025-10-15
maintain
Outperform
Reason
Oppenheimer raised the firm's price target on Almonty to $12 from $7 and keeps an Outperform rating on the shares. The firm notes Tungsten/APT prices have increased to $635/MTU on average from $430/MTU in June, driven by a growing supply/demand imbalance, U.S. government actions and China export controls. Oppenheimer believes fundamentals continue to support medium- to long-term prices of $450-$550/MTU, and it now models $500/MTU for 2026-2028 vs. $460/MTU previously.
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Cantor Fitzgerald
Matthew O'Keefe
Overweight
initiated
$6.50
2025-08-12
Reason
Cantor Fitzgerald
Matthew O'Keefe
Price Target
$6.50
2025-08-12
initiated
Overweight
Reason
Cantor Fitzgerald analyst Matthew O'Keefe initiated coverage of Almonty with an Overweight rating and $6.50 price target. Almonty is an established producer of WO3 tungsten concentrate with assets in South Korea, Portugal, and Spain and tungsten is a critical metal for the manufacturing and defense industries, the analyst tells investors in a research note. The price has risen about 50% this year on increased supply risk from China, the dominant producer, and increased demand related to rising defense budgets, the firm added.
Oppenheimer
Oppenheimer
Outperform
initiated
$7
2025-08-11
Reason
Oppenheimer
Oppenheimer
Price Target
$7
2025-08-11
initiated
Outperform
Reason
Oppenheimer initiated coverage of Almonty with an Outperform rating and $7 price target. The firm believes the company is positioned to become the world's largest miner of tungsten outside of China and Russia. The price of tungsten has been rising as global defense budgets grow, the U.S. Department of Defense implements bans on non-friendly-sourced critical materials, and China restricts the export of tungsten and other rare earths, the analyst tells investors in a research note. The firm says Almonty is taking advantage of this with plans to roughly triple its production by 2027. It views the shares as attractively valued at current share levels.
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.
