Almonty Industries stock price target maintained at $33 by DA Davidson

The U.S. Defense Logistics Agency awarded a $2B contract for tungsten supplies, with a $450M investment from the Department of War. GoldHaven Resources (CSE: GOH) completed drilling at its Kuhn tungsten-skarn target, intersecting skarn mineralization in two locations. Almonty Industries (NASDAQ: ALM) began commercial operations at its Sangdong plant, with 90% of Phase I production contracted. Guardian Metal (NYSE: GMTL) reported drilling results from its Tempiute project.

The U.S. and China failed to reach a rare earth supply deal during Xi Jinping's visit, leaving the West to secure supplies. Rare earth exports from China to the U.S. declined, with prices showing mixed trends. Elmet Group and Almonty Industries are expanding tungsten production. Glencore will partner with the U.S. strategic minerals reserve. Eramet plans to expand lithium production in Argentina. Processing capacity is also increasing, with Korea Zinc planning a U.S. smelter.

Almirall, S.A. (ALM) presented new clinical data at EADV 2026, showcasing advances in dermatology treatments. Key findings include sustained improvements in atopic dermatitis with lebrikizumab and benefits in psoriasis with tildrakizumab. The company also highlighted its commitment to medical dermatology through sponsorship and awareness campaigns.

Almonty Industries (NASDAQ: ALM) stock rose 11.09% on positive tungsten market news and project progress. The company reported $42.99M in quarterly revenue, $1.22B in cash, and a share buyback plan. ALM secured inspection certificates for its Sangdong project in South Korea and expanded operations in Rwanda, positioning itself as a key tungsten supplier outside China.

Almonty Industries (NASDAQ:ALM) shares rose 8% after Stifel initiated coverage with a Buy rating and $25 price target, citing its tungsten expansion and strategic market position. Tungsten prices have surged 775% since early 2025 due to China's export controls, benefiting Almonty's growth prospects.

Almonty Industries (ALM) stock rose 2.7% in pre-market trading to $12.74. Stifel initiated coverage with a Buy rating and $25 target, while Goldman Sachs gave a Neutral rating and $13 target. The company's Sangdong mine in South Korea received final certification for commercial operations, securing 90% of Phase I output under long-term agreements. The S&P 500, Dow Jones, and Nasdaq were up 0.3%, 0.3%, and 0.5% respectively.