$ALM

Sphene Capital GmbH reiterates a Buy rating on Almonty Industries Inc, setting a new target price of USD 26.40. The company has secured a long-term tungsten supply agreement with WBH, a Sandvik subsidiary, for its Los Santos Mine. The deal includes a USD 3.0 mn upfront payment and a floor price, reducing restart risks and improving cash flow visibility. Almonty aims to recover tungsten from existing tailings using improved technology.

Almonty Industries (ALM) received final approval for its Sangdong plant in South Korea, allowing commercial tungsten concentrate sales. Over 90% of Phase I production is covered by a 21-year contract with Global Tungsten & Powders. Management highlights demand visibility, while investors await proof of consistent output, customer payments, and cash flow.

Almonty Industries (ALM) has gained attention due to a tungsten supply deal, improved quarterly results, and new offtake commitments. Its share price has been volatile, closing at $13.72 after a 10.65% one-day gain and a 23.95% 30-day decline. The company's P/E ratio of 52.1x is high compared to peers, but a DCF model suggests it may be undervalued at $41.23.

On 25 September 2026, PPLI surged 11.33% to $40.00, ALM rose 10.65% to $13.72, and MXL climbed 10.00% to $93.84. Meanwhile, ZS fell 10.06% to $193.05, and TWLO dropped 7.96% to $275.80. Volatility was noted in small- and mid-cap stocks, with semiconductors and mining gaining, while cybersecurity and fintech declined.

Almonty Industries Inc. (NASDAQ: ALM) stock rose 11.09% on September 25, 2026, driven by positive tungsten production outlook. The company's Sangdong mine in South Korea is now in processing operations, and it has secured a joint venture in Rwanda. ALM reported $32.5M in revenue with a 48.6% gross margin, and a share repurchase plan of up to $300M. The stock's price-to-sales ratio is above 60, reflecting its status as a story stock.

MaxLinear (MXL) surged 11.46% to $95.08, while Zscaler (ZS) fell 8.42% to $196.57 and Twilio (TWLO) dropped 6.57% to $279.97 in midday trading. Other gainers included Almonty (ALM), PPLI, Maase (MAAS), and Firefly (FLY). Notable decliners were PURR, SECZ, and FRVO.

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) reported a 498% YoY revenue surge to $43M in Q2, driven by tungsten price increases. The company signed a multi-year deal with Sandvik to supply tungsten from its Los Santos mine, receiving a $3M upfront payment. ALM has $1.2B in cash after an $800M convertible note offering, supporting expansion projects. However, institutional investors remain cautious, with concerns about execution risks and commodity price sustainability.

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.

The global tungsten market, valued at $6.66B in 2026, is projected to reach $9.62B by 2030. China dominates supply, prompting Western exploration. GoldHaven Resources (CSE: GOH) announced new skarn zones at its Magno Project in British Columbia. Almonty Industries (NASDAQ: ALM) received mining facility certificates for its Sangdong Mine in South Korea. U.S. policies aim to reduce reliance on Chinese tungsten.