$ALM

Disc Medicine (IRON) surged 38.86% to $78.93, leading healthcare gains. Cleveland-Cliffs (CLF) rose 16.34% to $14.10 in materials. Almonty Industries (ALM) fell 10.17% to $8.83, among notable decliners.

Almonty Industries, a Western-aligned tungsten supplier, is preparing for an Investor Day as analysts focus on its position in the defense-critical metal market. The company's Sangdong mine in South Korea is ramping up production, with first shipments expected in late October. Analysts highlight tight supply fundamentals and upcoming U.S. defense procurement restrictions that could benefit Almonty.

Almonty (NASDAQ: ALM) will host its 2026 Investor Day on October 19, featuring a tungsten market overview and operational updates. The event will be webcast live, with a replay available later. CEO Lewis Black highlighted the company's operational milestones, including the commercial operation of the Sangdong Mine and Phase II expansion. Almonty is a leading supplier of conflict-free tungsten, critical for defense and advanced technology sectors.

DA Davidson maintained a Buy rating and $33 price target for Almonty Industries (ALM) after meetings with executives. The stock is currently at $11.24, down 12% in a week but up 53% in a year. The firm adjusted revenue and EBITDA estimates for 2026-2027, expecting the Sangdong facility to contribute to revenue in Q4 2026. Analysts anticipate sales and net income growth. Other analysts have mixed ratings and targets for ALM.

Almonty Industries (ALM) received regulatory approval for its Sangdong plant in South Korea, enabling tungsten concentrate sales under a long-term agreement. Over 90% of Phase I output is committed to Global Tungsten & Powders for 21 years. ALM's stock has seen volatility, with a 35.24% drop over 30 days but a 53.16% gain over one year. The company's fair value is estimated at $15.26, suggesting a 22% undervaluation according to Simply Wall St.

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.

Cantor Fitzgerald analyst Matthew O'Keefe updated clients on Almonty Industries, highlighting the start of concentrate shipping at its South Korean tungsten mine, Sangdong. The mine is moving toward 24/7 operations and has 4.6 months of stockpiled ore. Phase II expansion is underway, expected to increase throughput to 1.2 million tonnes annually by 2027, potentially producing 460,000 MTU of tungsten trioxide.

The global tungsten market is projected to grow to USD 9.62B by 2030, driven by industrial demand. Prices have surged, with tungsten concentrate reaching $2,500-$2,800 per metric tonne. Western Star Resources reported new tungsten-in-soil anomalies at its White Star project in Nevada, completing a 568-sample program. The company plans to advance both Nevada properties into drill planning.

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.