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Gold/Mining/Energy : Almonty Industries Inc.
AII.TO 9.660-2.3%1:33 PM EDT

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From: Sultan8/11/2025 12:16:39 PM
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Oppenheimer initiates Almonty Industries stock with Outperform rating

Investing.com - Oppenheimer initiated coverage on Almonty Industries (NYSE:ALM) with an Outperform rating and a $7.00 price target on Monday. The target represents a ~70% upside from the current price of $4.12, with InvestingPro data showing strong revenue growth of 24.5% in the last twelve months.

The research firm highlighted Almonty’s position to become the world’s largest tungsten miner outside of China and Russia, following its recent NASDAQ listing on July 14, 2025. The stock has demonstrated remarkable momentum, posting a 440% return over the past year.

Tungsten prices have climbed above $500/MTU, up from approximately $350/MTU in March, driven by growing global defense budgets, U.S. Department of Defense bans on non-friendly-sourced critical materials, and China’s export restrictions on tungsten and other rare earths.

Almonty plans to triple its production to approximately 2.4 million tons of tungsten ore by 2027, potentially representing about 40% of tungsten produced by friendly nations.


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